Kerala Government Approves Additional Rs 73.5 Crore for KSRTC Pension Payments
In a significant move to bolster the financial stability of the state-run transport corporation, the Kerala government has sanctioned an extra Rs 73.50 crore to the Kerala State Road Transport Corporation (KSRTC) as monthly assistance specifically for pension distribution. Finance Minister K N Balagopal made this announcement on Thursday, emphasizing the government's unwavering commitment to supporting the corporation.
Enhanced Financial Support for Timely Pension Disbursement
According to an official statement released by the minister, this latest allocation is part of the government's ongoing financial backing aimed at ensuring the timely payment of pensions to KSRTC retirees. With this fresh infusion of funds, the total government assistance extended to KSRTC during the current financial year has now reached an impressive Rs 1,399 crore.
Breaking down this substantial sum, a detailed analysis reveals that Rs 879 crore has been provided exclusively for pension distribution, while an additional Rs 520 crore was extended as special financial assistance to address other operational needs of the corporation.
Exceeding Budgetary Allocations
The state budget for the current year had originally earmarked Rs 900 crore for KSRTC. However, in a demonstration of proactive fiscal management, the government has gone above and beyond this initial provision. In addition to the budgetary allocation, an extra Rs 499 crore was made available to KSRTC throughout the year, pushing the total support well beyond the originally planned amount.
Historical Context and Comparative Analysis
Minister Balagopal also took the opportunity to highlight the extensive scale of financial backing extended to KSRTC during the tenure of the Left Democratic Front (LDF) government. He provided a comprehensive breakdown, noting that during the first LDF tenure, the corporation received a substantial Rs 5,002 crore in assistance. This support was significantly amplified in the second tenure, with an allocation of Rs 8,619 crore.
When combined, the LDF government has extended a total of Rs 13,621 crore in financial assistance to KSRTC, underscoring a robust and sustained commitment to the corporation's welfare.
In stark contrast, the statement pointed out that during the five-year tenure of the previous United Democratic Front (UDF) government, KSRTC received only Rs 1,467 crore as financial support. This comparison highlights the marked increase in funding under the current administration, aimed at strengthening the public transport sector and ensuring the well-being of its pensioners.
