The Maharashtra State Road Transport Corporation (MSRTC) today decided to increase the fares of all its bus services by 18 per cent from June 15.
Transport Minister Diwakar Raote said the decision was taken out of compulsion, due to increasing fuel prices and recent increase in the wages of MSRTC employees.
If taxes on diesel are lowered, the fare hike would be reconsidered, he said.
Due to rising fuel prices, MSRTC's expenditure has increased by Rs 460 crore annually, he said.
Further, the employees were recently given a hike, which put additional burden on Rs 4,849 crore on the corporation, he said.
The MSRTC initially wanted a fare hike of 30 per cent, but it was restricted to 18 per cent, the minister said.
He had requested Chief Minister Devendra Fadnavis to reduce various taxes on diesel, Raote said.
"Fadnavis and finance minister Sudhir Mungantiwar have responded positively to my demand. If it is accepted, the fare hike would be reconsidered," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)