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Rs 1200 crores revenue loss for the TN state transport corporations
Posted on: 12/May/2020 10:35:38 AM
It is now said that the TN transport corporations have faced as estimated revenue loss of amount of Rs 1200 crores due to the lock down. The government run transport corporations are having tough time now.
The officials have mentioned that due to loan burden and pending dues the transport department has planned to increase the borrowings. In TN, there are 21,500 government buses and 1.6 crore people travel in these buses. These buses have been managed by different transport corporations including MTC in Chennai. An amount of Rs 25 crores is got per day through ticket sales by the transport corporations.
It is known that out of total earnings nearly 53 percent or Rs 340 crores goes into paying the salaries for employees and monthly pensions for the retired staffs. According to a senior officer belonging to the transport department, currently salary commitments have been managed through government reimbursements through students subsidy schemes.
Many complaints were given by the transport unions regarding the government not yet clearing the pending terminal benefits like PF, gratuity etc of 3520 employees who retired in 2019. Information is it would cost Rs 920 crores roughly.
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