RTC to increase bus fares in AP

Vijayawada, Oct 7: Andhra Pradesh Chief Minister N Chandrababu Naidu is likely to approve an increase in the RTC bus fares in the state by 3 paise per km today with a view to raise at least Rs 300 crore for the cash-strapped road transport corporation. Confirming this to the media, the state Finance Minister Yanamala Ramakrishnudu said the CM is expected to give his nod at a meeting to be held later today in Vijayawada. Ramakrishnudu said the decision is being taken after a cabinet sub-committee failed to arrive at a decision on a proposal sent by the RTC to increase the passenger fares in order to cover its ever mounting losses. In its proposal, the RTC suggested three options: 1) 15 per cent increase whereby the corporation rakes in Rs 628 crore revenue, 2) 12 per cent increase to rake in Rs 502 crore revenue, and 3) 10 per cent increase to earn Rs 420 crore revenue.