The AP government will hike RTC fares by 3 paise per kilometre
APSRTC bus
Hyderabad: The AP government will hike RTC fares by 3 paise per kilometre to raise Rs 300 crore for the beleaguered corporation. AP Chief Minister N. Chandrababu Naidu is expected to give the green signal at a high level meeting to be held in Vijayawada on Wednesday. The RTC had sent the proposal to increase passengers fares to cover its mounting losses. The state government had handed over the matter to a Cabinet sub-committee but it did not take a decision.
Finance minister Yanamala Ramakrishnudu confirmed that Mr Naidu would hold the meeting to take a decision on hiking RTC fares. The RTC given three options: A 15 per cent hike would earn the corporation Rs 628 crore, a 12 per cent hike, Rs 502 crore and a 10 per cent hike, Rs 420 crore. Sources said Mr Naidu had capped the hike at 3 paisa per kilometre, to give the corporation Rs 300 crore per year.
( Source : deccan chronicle )
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