The Bangalore Metropolitan Transport Corporation (BMTC), that has hiked the bus fares by 15 per cent from Thursday midnight, hopes that this increase will bring an additional revenue of around Rs 235 crore during the financial year 2014-15.
The BMTC has to increase its revenue by more than Rs 300 crore during the current fiscal to cover the losses of 2013-14 as well as to take care of future increase in the cost of operation.
The balance increase of Rs 60 to 65 crore will be achieved through ongoing process of route rationalisation and by improving performance parameters, the corporation said while explaining the reasons for the fare hike.
The unprecedented increase in diesel prices and staff cost as well as other consumables has pushed the BMTC into losses. Although the final balance sheet is under preparation, the losses for the year 2013-14 may be in the range of Rs 130 crore to 140 crore, a BMTC official said.
Officials say there is going to be further increase in diesel prices in the coming months as well as increase in Dearness Allowance of the BMTC staff.
Condemned
Meanwhile, the Bangalore Bus Prayaanikara Vedike, which has been protesting BMTC fare hike over the last few years, condemned the move saying it was unjustified and anti-people.
“BMTC is already the costliest public bus transport system in the country. People are struggling to make ends meet and have been demanding that the fares be brought down. BMTC claims that its losses have increased. We demand that a CAG audit be undertaken immediately to assess BMTC’s finances,” said Vinay Srinivas of the Bangalore Bus Prayaanikara Vadike.
Non A/c services
1st Stage Current Rs 5 New fare Rs 6
2nd Stage Current Rs 10 New fare Rs 12
3rd Stage Current Rs 12 New fare Rs 14
A/c services
1st Stage Current Rs 10 New fare Rs 15
2nd Stage Current Rs 15 New fare Rs 20
3rd Stage Current Rs 15 New fare Rs 20
The average stage comprises a distance of two km
The fare for 3rd stage has been hiked from Rs 30 to Rs 35 for Vajra buses.
