more-inThe Karnataka State Road Transport Corporation (KSRTC), one of the premier State transport undertakings in the country, has suffered a loss of ₹177 crore during 2016-17, the highest in the past decade. It posted a profit of ₹ 50.95 crore during 2015-16, while in the preceding two financial years it incurred a loss of ₹ 43.49 crore and ₹ 75.55 crore, respectively. KSRTC attributed this loss mainly to increased wages of employees, which cast an additional burden of about ₹102 crore. Besides, illegal operation by private operators, both on long-distance and short-distance nationalised routes, too is denting revenues of KSRTC, Mr. Vishwanath added. Mr. Bhat told The Hindu that lack of discipline in operation of KSRTC services with erratic timings inconvenient to passengers was another reason for the losses.

Source: The Hindu August 13, 2017 04:07 UTC