Task force to improve fiscal health of RTCs

Revenue loss attributed to hike in fuel costs, pandemic

With the four road transport corporations (RTCs) in the State recording a total revenue loss of ₹ 1,121 crore, a special task force has been constituted to improve their finances within six months. After a review meeting with the heads of the four corporations here on Tuesday, Transport Minister Sriramulu attributed the loss to the hike in diesel price and the pandemic that has resulted in a stark drop in ridership. While stating categorically that the bus fares would not be hiked, he said that the special task force had been been given a five-point agenda, including curbing the revenue drain, bring in fiscal discipline, increase non-fare revenue, recommend technology driven solutions and pro-people initiatives.“Our aim is to ensure that in the next six months, the four corporations reach no loss-no gain level, without any to burden the citizens,” he said.