 "CM Harish Rawat's 'tough decision': UTC hike bus fares by 10%")
After Chief Minister Harish Rawat's warning of tough decisions, the loss-making Uttarakhand Transport Corporation (UTC) has increased buses fares by 10 per cent.
The new fares hike came into effect from Saturday, UTC Managing Director Brijesh Sant told Business Standard. The decision will be applicable for the buses running in the hill state only, top UTC officials said.
The move came despite the ruling Congress' earlier assertion the tough decisions will not impact the common man.
The UTC whose total losses stood at ~200 crore till 2012-13 will be able to generate ~15-16 crore through the new decision, said Deepak Jain UTC General Manger. UTC had suffered a loss of ~40 crore last year.
The new fares hike came into effect from Saturday, UTC Managing Director Brijesh Sant told Business Standard. The decision will be applicable for the buses running in the hill state only, top UTC officials said.
The move came despite the ruling Congress' earlier assertion the tough decisions will not impact the common man.
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Taking a leaf from Prime Minister Narendra Modi's book, the chief minister had recently stated that he would take some tough decisions to revive the economy of the state. The fare hike of buses is first such step in this direction.
The UTC whose total losses stood at ~200 crore till 2012-13 will be able to generate ~15-16 crore through the new decision, said Deepak Jain UTC General Manger. UTC had suffered a loss of ~40 crore last year.
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