KSRTC Fare Hike Inevitable Amid Surging Oil Prices, Says Chairman

Karnataka State Road Transport Corporation (KSRTC) Chairman SR Srinivas announced that a bus fare hike is unavoidable due to rising oil prices. Operational costs, employee salaries, and benefits have necessitated the increase. KSRTC has proposed a fare hike of 5-20%, awaiting the Chief Minister's final decision.

Karnataka State Road Transport Corporation (KSRTC) Chairman SR Srinivas has stated that a bus fare hike is inevitable due to rising oil prices. He noted that it's been five years since the last fare increase in 2019, and current economic conditions mandate an adjustment to cover operational costs and support employee benefits.

Srinivas highlighted that while KSRTC employees' salaries were revised in 2020, the next revision is scheduled for 2024. He emphasized that the delay in fare adjustments has exacerbated financial challenges, citing a Rs 295 crore loss in the last three months. He also mentioned the submission of a proposal for 40 new Volvo buses, alongside the procurement of 600 regular buses. The fare increase proposal ranges from 5 to 20 percent, pending the Chief Minister's approval.

Srinivas clarified that the fare hike will affect all passengers but will be covered under the Shakti scheme for female passengers. He underscored the necessity of the fare hike, given that diesel prices have jumped from Rs 60 in 2019 to current levels, alongside rising expenses in staff salaries, administrative costs, and new services.