Maharashtra government has approved Rs 391.02 crore in financial assistance to the Maharashtra State Road Transport Corporation (MSRTC) to reimburse passenger fare concessions offered in September 2026. The funding is expected to help the state-run bus operator pay salaries to its officers and employees on time ahead of Diwali.
The decision follows a directive from Transport Minister and MSRTC Chairman Pratap Sarnaik, who asked the corporation to ensure that employees receive their November salaries before the festival. The government has formally approved the release of the funds under the 2026-27 financial year.
-
India's Market Leaders To Decode The New Samvat At NDTV Profit Ignite In Mumbai On Oct 28 -
NDTV Profit IGNITE Diwali 2026: Top Market Veterans Decode Wealth Creation -
The Week Ahead: Earnings Season, Fed Policy Verdict And Crude Oil In Focus -
Silver Is Now Down From Rs 4.2 Lakh To Rs 1.9 Lakh: Where It Goes From Here -
NDTV Ignite, The Trillion-Dollar Trajectory: India's Road to 2030
The reimbursement will cover fare concessions extended to eligible passenger groups during September. The funds are expected to provide financial relief to MSRTC as it continues to operate bus services across Maharashtra while offering discounted travel to designated categories of passengers.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
MSRTC Employees to Receive November Salaries Before Diwali
The government decision is particularly significant for MSRTC's workforce of approximately 83,000 officers and employees, who are expected to benefit from the planned early salary payments.
Under the corporation's usual schedule, salaries are paid between the seventh and tenth of each month. However, with Diwali celebrations beginning on November 6 this year, the administration was asked to ensure that November salaries reach employees before the festival.
Sarnaik had emphasised that employees should not face difficulties in meeting household expenses, purchasing festival essentials or making financial arrangements with their families because of the corporation's financial constraints.
Financial Support Aims to Ensure Timely Payments
The release of Rs 391.02 crore is intended to help MSRTC manage its financial obligations while maintaining the benefits extended to passengers through concessional fares.
The government's approval stated, as per Maharashtra Times " Approval is being given to provide an amount of Rs. 391.02 crore (in words, three hundred and ninety-one crore two lakh rupees) in cash to the Maharashtra State Road Transport Corporation as reimbursement of the concessional value of September, 2026. The said fund should be spent from the account head "Demand No. B-3 Account Head 2041 Vehicle Tax (00) 001, Operation and Administration, (01) Transport Commissioner (01) (01) Establishment- Transport Commissioner (Mandatory) (Voted) (20410018) 33-Finance" in the financial year 2026-27. The said financial assistance is unconditional. For this, the Transport Commissioner, Maharashtra State, Mumbai is being authorized and the Accounts Officer, who is the Drawing and Disbursing Officer in his office, should draw the said amount and pay it to the Maharashtra State Road Transport Corporation."
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
