PaperDabba News Desk: July 15, 2024
Karnataka State Road Transport Corporation (KSRTC) faces a significant financial crisis. Introducing free travel schemes has drastically impacted the corporation’s revenue, leading to an urgent need for a ticket price hike.
KSRTC’s Financial Crisis
The Karnataka government introduced a free bus travel scheme for specific categories of passengers, aiming to provide accessible and affordable transportation. While this initiative has been praised for its social benefits, it has severely strained KSRTC’s finances. The corporation reported a staggering loss of ₹295 crores due to the free travel scheme.
Proposed Ticket Price Hike
To mitigate these losses and ensure the sustainability of operations, KSRTC is contemplating an increase in bus ticket prices. The proposed hike ranges from 15% to 20%, expected to generate additional revenue and help cover the operational costs. KSRTC officials emphasize that this step is necessary to maintain service quality and avoid further financial deterioration.
Public Reaction and Government Response
The proposed price hike has sparked mixed reactions among the public. While some understand the need for increased fares to sustain the service, others express concerns about transportation affordability. The government is closely monitoring the situation and may consider subsidizing certain routes or categories to balance KSRTC’s financial health with the public’s transportation needs.
Future Plans and Strategies
KSRTC is also exploring other revenue-generating measures to supplement the fare hike. These include optimizing routes, enhancing service efficiency, and introducing premium services. The corporation is committed to improving the passenger experience while ensuring financial stability.
KSRTC’s efforts to navigate through these financial challenges highlight the complex interplay between social welfare schemes and financial sustainability. The success of these measures will depend on careful implementation and ongoing support from the government and the public.
