The Maharashtra State Road Transport Corporation (MSRTC) on Monday decided to hike fares for all types of bus services from midnight, with a top official stating that the upward revision was due to rise in diesel prices.
The MSRTC, which has been severely hit due to curtailed operations amid the coronavirus pandemic and lockdown, is expected to earn an additional Rs 50 crore from this move, Shekhar Channe, vice chairman and managing director of the state-run transport undertaking, told PTI.
"We have decided to hike fares by around 17.17 per cent mainly due to rise in diesel prices. The revised fare will be effective from midnight. MSRTC is revising its bus fare after a gap of three years," he said.
A senior official said the State Transport Authority approved MSRTC's fare hike in a meeting held earlier in the day.
MSRTC has a staff strength of 95,000 employees and a fleet of 16,000 buses.
