Govt yet to transfer zero ticket ‘profits’ to RTC
Though the occupancy ratio has indeed increased, the profits in the form of ‘zero tickets’ are reflected only on paper and the corporation did not get any financial benefit.
Hyderabad: The increase in the ridership of the TSRTC buses due to the ‘Maha Lakshmi’ free travel facility for women, it was hoped, would make the corporation profitable.
However, this is yet to happen. Though the occupancy ratio has indeed increased, the profits in the form of ‘zero tickets’ are reflected only on paper and the corporation did not get any financial benefit.
The reason for this is the dues pending with the government. While the amount of zero tickets has to be deposited to the RTC from time to time, the government has been sitting on it.
On average, RTC spends Rs 350 crore every month in the form of zero tickets. The corporation will benefit only if the government releases funds as all the tickets for women are issued in the form of zero tickets. However, the government is not releasing the amount of zero tickets to RTC every month and it is learnt that it has around Rs 1,400 crore pending with it up to March.
The previous BRS government had set aside Rs 1,500 crore for RTC in its annual budget. But, the new government led by the Congress has only released Rs 1,000 crore in installments since last December. The funds were released, but the amount of zero tickets was left in arrears.
If one looks at the current situation of RTC, the profits appear to be limited to paper only. With no money coming from the government, the results are nowhere to be seen.
It would become difficult for the corporation if the arrears accumulate pushing it further into deep losses. The amount on the zero tickets is also likely to become a burden for the RTC in case the government does not release them at the earliest.
