Rising Debts: MSRTC's Financial Struggles Unveiled
Maharashtra State Road Transport Corporation's losses more than doubled to Rs 10,324 crore by 2023-24. Despite past profitability, recent years show financial strain, with unaudited losses continuing into 2024-25. The MSRTC's challenges include workforce reductions and reduced bus numbers, highlighting ongoing financial hurdles.
- Country:
- India
The Maharashtra State Road Transport Corporation (MSRTC) has revealed that its accumulated losses soared to Rs 10,324 crore for the fiscal year 2023-24, more than doubling from Rs 4,603 crore in 2018-19, according to a newly released white paper.
An unaudited financial report for 2024-25 indicates that the country's largest state-run transport body is facing continued financial difficulties with an additional loss of Rs 1,217 crore. This disclosure was made public at an event featuring state Transport Minister Pratap Sarnaik and MSRTC Vice Chairman and Managing Director Madhav Kusekar.
The white paper details the corporation's historical financial performance, showing profits in eight separate years over the past 45 years. Sarnaik noted that the number of employees has decreased to 87,000 from over 1 lakh, and the fleet has reduced to 14,500 buses.
(With inputs from agencies.)
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- Maharashtra
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- Sarnaik
- white paper
- employees
- buses
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