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Nation Current Affairs 12 Jul 2019 Fuel price rise to c ...

Fuel price rise to cascade into RTC fare hike

DECCAN CHRONICLE. | RAJESWARI PARASA
Published Jul 12, 2019, 1:51 am IST
Updated Jul 12, 2019, 1:51 am IST
The corporation had written to the government, requesting an increase in fares.
Though the RTC gets fuel at subsidised prices as a bulk consumer, the corporation has to bear its share of burden from the Union Budget’s decision to increase Rs 1 per litre on excise duty on fuels. (Representational image)
 Though the RTC gets fuel at subsidised prices as a bulk consumer, the corporation has to bear its share of burden from the Union Budget’s decision to increase Rs 1 per litre on excise duty on fuels. (Representational image)

Hyderabad: With the increase in diesel prices as per the recent Union Budget, Telangana State Road Transport Corporation officials opine that only an increase in fares will save them in the background of their Rs 928 crores loss.

The corporation had written to the government, requesting an increase in fares. Of the Rs 928 crore, the maximum losses are incurred by the Greater Hyderabad zone, at Rs 550 crore. With the fuel price hike, it is estimated that there will be an additional loss of Rs 70 crore per annum in the entire state.

 

“There is a need for at least a 15 to 20 per cent hike to get out of the debt crisis that the corporation is stuck in since a long time. Though there were fuel price hikes several times in the past, the corporation did not hike the fares for the past three years,” said a senior TSRTC official. The last time the RTC hiked the fares was by 10 per cent.

Though the RTC gets fuel at subsidised prices as a bulk consumer, the corporation has to bear its share of burden from the Union Budget’s decision to increase Rs 1 per litre on excise duty on fuels.

In the past, an expert committee had recommended that the corporation be given the liberty to increase the ticket price when required.

TSRTC employee unions are demanding merger of the corporation with the government, after similar move was initiated by AP. They said it would solve not just the problem of debts but solve many other issues.

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Location: India, Telangana, Hyderabad




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