Diesel price hike: TN allocates Rs 200 cr to meet expenses
Chennai: With state transport undertakings reeling under the impact of increase in diesel price, Tamil Nadu government Saturday said it had allocated Rs 200 crore this year to meet the expenses while avoiding revising ticket rates.
Transport undertakings were incurring an additional expenditure of Rs 31.82 crore per month after diesel price was raised by Rs 6.07 in September by the Centre and their monthly diesel expenditure stood at Rs 261.90 crore, Chief Minister J Jayalalithaa said in a statement.
The price revision has resulted in an annual loss of Rs 381.81 crore. The undertakings` fuel consumption stood at almost 5.24 crore litres per month.
Transport undertakings will incur an additional Rs 206 crore towards diesel expenditure during the current financial year between September 14, 2012 and March 31, 2013, she said, adding, to compensate this, they have to "increase ticket rates."
"However, considering people`s welfare and at the same time the need to compensate the losses, the government has decided to bear the additional expenses. Rs 200 crore had been allocated for this purpose in the first Supplementary Estimates passed in the state Assembly on Friday," she said.
More from India
More from World
More from Sports
More from Entertaiment
- Watch: Mother beats her infant son in Bareilly, tries to strangulate him
- Women can enter inner sanctorum of Haji Ali Dargah: Mumbai HC
- Watch: PM Modi's speech on Transforming India at NITI Aayog
- Mysterious fever claims 12 lives in Noida within 15 days
- Panel discussion on Mumbai HC allowing women to enter Haji Ali Dargah
- 'Quality health care must for India'
- Bombay HC allows women to enter inner sanctum of Haji Ali Dargah; activists hail 'momentous' verdict
- Pakistan's Sami Aslam reveals why he always recalls these words from Sachin Tendulkar's retirement speech
- Subramanian Swamy fires fresh salvo at Raghuram Rajan, claims he has no degree in economics
- Dwayne Bravo all set to make singing debut in Bollywood! - Details inside