Maha govt owes MSRTC Rs 1,049 crore as reimbursements: Survey
State Economic Survey for 2013-14, tabled in the Maharashtra state legislature today, said that the state government owed the MSRTC
Mumbai: State Economic Survey for 2013-14, tabled in the Maharashtra state legislature today, said that the state government owed the Maharashtra State Road Transport Corporation (MSRTC) Rs 1,049 crore as reimbursements for bus fare concessions given to various sections of society.
MSRTC gives various types of bus fare concessions to studfents, senior citizens, cancer patients and freedom fighters among others.
The concession amount is reimbursed by the Maharashtra state government and the amount of concession due for reimbursement as on March 31, 2013, is Rs 1,049 crore.
Though the Maharashtra government has reimbursed Rs 794 crore so far, the survey said that MSRTC incurred a loss of Rs 331.13 crore during 2012-13, due to its low fare trips operated in remote areas, which ensure that net earnings per km is less than the net variable cost.
MSRTC’s total receipts and expenditure for 2012-13 were higher by 8.9 per cent and 17 per cent respectively, over the previous year.
The rate of passenger tax on income from rural passenger transport, air-conditioned passenger transport and urban passenger transport as on March 31,2013 were 17.5 per cent, 5.5 per cent and 3.5 per cent respectively, the survey said.