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Rs 3,000 crore allocated to TSRTC in Telangana budget

. "Job security has been ensured to the employees. Cargo parcel service was introduced to improve the corporation's finances and this is yielding good results," said Harish Rao

By Telangana Today

Published Date - 18 March 2021, 05:28 PM

Rs 3,000 crore allocated to TSRTC in Telangana budget — (file photo)

Hyderabad: The State government, keeping its promise of helping the Telangana State Road Transport Corporation come out of the financial crisis, has allocated a total of Rs 3,000 crore for the corporation in the 2021-22 State budget.

“TSRTC is critical for public transport system. For various reasons, TSRTC has been incurring losses. The government, however, has been extending a helping hand to the corporation from time to time to ensure better transport facilities for the people. The hike in prices of petrol and diesel and increase in the cess by the Central Government have further burdened the RTC which is already in financial stress,” Finance Minister T Harish Rao said in his budget speech in the State Assembly on Thursday.

Despite these setbacks, the government, he said, was providing good salaries to TSRTC employees and taking initiatives to strengthen the corporation. “Job security has been ensured to the employees. Cargo parcel service was introduced to improve the corporation’s finances and this is yielding good results,” he said, adding that to solve problems of employees, an Employees Board was constituted and the issues were being addressed.

“An amount of Rs 1,500 crore has been proposed in this Budget towards assistance to TSRTC. The government is also extending guarantees for loans raised by TSRTC, for which an amount of Rs.1,500 crore is proposed. With these measures, the government is confident that the financial position of TSRTC will improve,” the Minister said.