Govt announces cut in bus fares due to falling diesel price

: Facing strong Opposition demand, Karnataka Transport Minister Ramalinga Reddy today announced that there would be reduction in bus fares of state road transport corporations because of fall in diesel price.
"As per Chief Minister Siddaramaiah's assurance, we will slash the bus fares of all the state transport corporations including Bengaluru Metropolitan Transport Corporation (BMTC) and Karnataka State Road Transport Corporation (KSRTC)," he said in the Assembly here.
The quantum of reduction would be announced in next two days, the Minister said. "The officials have been asked to assess the financial position to decide the quantum of reduction, and it will be announced in a day or two."

Raising the issue, JDS member G H Srinivas sought a reply from the government on the reason behind not reducing bus fares in spite of the fall in diesel price by Rs 12 in the last few months.
Replying to a query on KSRTC suffering a loss of Rs 354 crore, the Minister attributed it to rise in prices of tyres, tubes, other spares and revision in salaries of employees of various transport corporations.
Reddy also said BMTC will reach a no-loss and no-profit status by this year. "Losses in BMTC would be a thing of the past and "we will reach no-profit, no-loss status this year," he said.

Earlier, expressing displeasure over functioning of transport corporations,Cheluvarayaswamy of JD(S) raised concern over the functioning of transport corporations and losses suffered thereof, attributing it to mismanagement and negligence of the officials.
He also claimed that bus fares in Karnataka are the highest in Asia.