KSRTC gets additional ₹122 crore from govt to pay pensions
KSRTC receives additional financial aid of ₹122 crore from the Kerala government to alleviate financial struggles.
KSRTC receives additional financial aid of ₹122 crore from the Kerala government to alleviate financial struggles.
KSRTC receives additional financial aid of ₹122 crore from the Kerala government to alleviate financial struggles.
Thiruvananthapuram: The finance department on Friday announced an additional ₹122 crore as financial assistance to the struggling Kerala State Road Transport Corporation (KSRTC) to meet pension payments and other operational needs.
Of the total amount, ₹72 crore will be used for pension distribution, while ₹50 crore is for general financial aid, Finance Minister KN Balagopal said in a statement. He added that the second Pinarayi Vijayan government has provided a total of ₹6,523 crore to the corporation as government assistance.
In the current financial year, the budgetary allocation for the corporation stands at ₹900 crore. Out of this, ₹388 crore has already been disbursed within the first three months, according to the statement.
Balagopal also noted that in the previous financial year, beyond the budgeted ₹900 crore, an additional ₹676 crore was provided to KSRTC.