The scheme was announced in the presence of Chief Minister Devendra Fadnavis and Shiv Sena chief Uddhav Thackeray.
A release issued by the MSRTC said that apart from jobs, wives of martyrs would also be provided with lifetime free bus passes.
MSRTC also launched 'Sleeper Shiv-shahi' buses today at the programme held at the ST bus depot in Mumbai Central, where Fadnavis and Thackeray were present.
The MSRTC also launched a scheme for the youth in the Naxal-affected areas, under which driving training schools would be started for them.
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