After enduring severe financial challenges over the past five to six years, the Maharashtra State Road Transport Corporation (MSRTC) appears to be on the path to recovery, with 18 out of its 31 divisions turning a profit in July 2024, according to an MSRTC spokesperson.
“The Corporation’s losses for this month have been significantly reduced to just Rs 22 crore. From April to July 2024, losses have decreased by Rs 131 crore compared to the previous financial year,” the spokesperson said.
Dr. Madhav Kusekar, Vice-Chairman and Managing Director of MSRTC, congratulated the profitable divisions and encouraged the remaining ones to strive for profitability in August, with the goal of bringing the entire corporation into the black.
The MSRTC had been in a dire financial situation following the two-year COVID-19 pandemic and a subsequent six-month-long employee strike. However, operations resumed smoothly from May 2022. “Despite this, regaining lost passengers proved to be a significant challenge,” an official said.
To address this, the state government introduced two key initiatives: free travel for senior citizens above 75 years on all buses and a 50% discount for women passengers. These measures resulted in a substantial increase in ridership, with 5.3 million passengers currently traveling daily on MSRTC buses.
“In addition to these initiatives, the MSRTC administration has launched several innovative programs over the past year, such as the ‘Hinduridaysamrat Balasaheb Thackeray Clean and Beautiful Bus Station Campaign,’ direct school passes for students, ‘Passenger King Day,’ ‘Worker Parent Day,’ and ‘Pilgrimage with MSRTC in Shravan,'” stated an official.
To further support struggling divisions, senior officers from the head office were assigned to guide those that had been running at a loss for several years. “Meetings with staff and officers were held at the local level, and unprofitable bus routes were redirected to areas with higher passenger demand,” the official added.
These concerted efforts have borne fruit, with 18 out of 31 divisions turning a profit in July. Notable contributions came from Jalna (Rs 3.34 crore), Akola (Rs 3.14 crore), Dhule (Rs 3.7 crore), Parbhani (Rs 2.98 crore), Jalgaon (Rs 2.40 crore), and Buldhana (Rs 2.33 crore), each earning over Rs 2 crore in profit.
Confirming the development, a senior MSRTC officer expressed confidence that the remaining divisions would achieve profitability in August, leading to a full turnaround for the corporation and restoring MSRTC to its former glory.
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The State Transport buses are a lifeline for those dependent on affordable modes of transport. They not only serve the cities and towns of Maharashtra but also cover approximately 44,000 villages across the state, in addition to offering services to neighboring states such as Gujarat, Madhya Pradesh, Chhattisgarh, Goa, and Karnataka.
