Announcing this today at Dharamsala, state Transport Minister GS Bali said that the revised fares would come into effect from October 1.
Private bus operators in the state had sought a hike in bus fares and even gone on a day-long strike to press their demand.
They had also planned a three-day strike which, however, was called off upon an assurance from the government that the fare hike demand would be considered sympathetically.
HRTC is said to be running on losses amounting to Rs 80 crore annually. Its accumulated losses have touched Rs 600 crore.
Meanwhile, state BJP leaders have strongly criticised the fare hike decision, saying it was totally "unjustified and uncalled for" at a time when people were already reeling under rising prices.
State BJP chief Satpal Singh Satti and party spokesperson Ganesh Dutt said that only recently, said that the 30 per cent hike and the increase in the minimum fare for local buses was a cruel joke on the people.
