The Maharashtra State Road Transport Corporation (MSRTC) has announced the cancellation of the proposed 10% fare hike which was to be done on Diwali. CM Eknath Shinde made this announcement along with the announcement of toll waiver for light motor vehicles entering Mumbai.
Due to the increased rush of passengers during the festive season, the Maharashtra State Road Transport Corporation (MSRTC) had proposed a fare hike. However, this year, the state government has rejected the proposal. According to sources, while the MSRTC management had initially approved the fare hike, the state secretariat later overturned the decision. This rejection is expected to add financial pressure on MSRTC.
In addition to this, MSRTC is preparing to provide a Diwali bonus of INR 40 crore to its eligible employees. However, questions have been raised about whether the cancellation of the fare hike will impact the corporation's ability to pay the bonus.
Last year, the MSRTC had implemented a fare hike from November 8 to 27 during the festive period. With a fleet of 15,000 buses and over 5.5 million daily passengers, MSRTC remains one of the largest transport corporations in India.
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