Representational Image | Photo: Mathrubhumi
Thiruvananthapuram: The Kerala government has reportedly spent nearly Rs 4000 crore from the budget to maintain KSRTC in the public sector and distribute pensions and salaries to the KSRTC staff within the last two years. KSRTC has not yet escaped from the debt trap despite the government’s financial support.
The state government set aside Rs 1000 crore on an average for the corporation under each budget. However, the government has been forced to dispense double the estimated amount as credits in addition to other project expenditures. In 2021-22, KSRTC received Rs 2124 crore from the state government. Though Rs 1005.69 crore has been declared to be allocated to KSRTC under the 2022-23 budget, the officials of the Department of Finance informed that this amount will exceed Rs 2000 crore by the end of the financial year.
KSRTC has a debt of Rs 12,463.78 crore in its account, including loans provided by the state government.
Even after reserving a considerable amount in the budget each year for KSRTC, the government has been persuaded to deliver additional amounts in view of the corporation’s difficulty in dispensing salaries and pensions.
KSRTC’s revenue collection and expenses during the period of March 2022 to October 2022
| Revenue obtained | Rs 1477.92 cr |
| Expenditures | Rs 2240.32 cr |
| State govt's financial aid to dispense salaries | Rs 887.09 cr |
| State govt's financial aid to dispense pensions | Rs 987.02 cr |
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