KSRTC: Budget proposes loan repayment, clearing of pension arrears
Thiruvananthapuram: Finance Minister Thomas Isaac, presenting the annual state budget on Friday, said that 2018 will be the year of revival for KSRTC. Pension arrears will be distributed within March.
It will be divided into three profit centres. An assistance of Rs 1,000 crore will be provided to the Corporation to fill the income-expenditure gap, subject to conditions. The KSRTC will be revived with the support of the bank consortium. The loans with high interest rate and other liabilities will be repaid taking a low-interest loan from the consortium.
Alappuzha bus terminal will be modernized in a mobility hub model. The outstanding pension amount will be cleared by March, but the government will not take up the pension liabilities. 2000 more buses will be purchased. Within 6 months, the loan amount and its interest will be repaid, said the finance minister.