Staggering Financial Decline: MSRTC's Surging Losses Unveiled

The Maharashtra State Road Transport Corporation (MSRTC) has unveiled a daunting financial predicament, with accumulated losses skyrocketing to Rs 10,324 crore for FY 2023-24, according to a white paper released by the state. This marks a significant increase from Rs 4,603 crore in 2018-19, highlighting a deepening crisis.

Transport Minister Pratap Sarnaik acknowledged the grim outlook but emphasized efforts to improve the financial condition through initiatives like deploying new buses and exploring revenue-enhancing measures. Factors such as outdated vehicles, loss-making routes, and illegal transport activities have exacerbated financial strains.

The white paper, often demanded by opposition, was an initiative by Sarnaik to transparently present MSRTC's financial health. It outlines strategies like introducing LNG buses, ERP systems, and digital ticketing to cut costs and increase efficiency, mirroring a determined approach to address longstanding challenges.

(With inputs from agencies.)