Mumbaikars will not have to pay extra fare as Mumbai BEST bus has proposed not to increase any fare hike for the fiscal year 2025-26. This proposal has brought a relief to the city's 35 lakh daily commuters, the Brihanmumbai Electric Supply and Transport (BEST). The budget, presented Thursday by BMC Commissioner Bhushan Gagrani, reveals that BEST anticipates a loss of approximately Rs 2,132 crore for the year, adding to accumulated losses totaling Rs 9,286 crore over the years.
While BEST's electricity division remains profitable, with a gain of Rs 46 crore, the transport division is the main contributor to the financial shortfall. To address this, BEST has requested a grant of Rs 2,812 crore from the municipal corporation. The budget also sets a goal to increase the fleet size to 10,182 buses by March 2026.
Meanwhile BEST plans to replace 510 old buses with air-conditioned electric single-decker buses, at an estimated cost of Rs 679 crore. The replacement will include 273 single-decker electric buses and 237 midi buses. By March 2026, BEST aims to have a total fleet of 10,182 buses, consisting of 3,337 self-owned buses and 6,845 leased buses. Additionally, approximately 27,000 BEST employees received their Diwali bonus on Thursday, with each worker credited Rs 29,000. This followed the approval of Rs 80 crore by BMC for the bonus, which had been delayed due to the election code of conduct.
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As TOI reported, a senior official, speaking anonymously, explained that the transport division faces monthly expenses of Rs 240 crore but generates only Rs 60 crore in revenue, resulting in monthly losses of Rs 180 crore. The deficit has grown from Rs 251 crore in 2019-20 to Rs 336 crore in 2021-22 and Rs 1,028 crore in 2022-23. For the current year, losses are expected to exceed Rs 2,000 crore by March 2025. Meanwhile, commuters continue to demand more buses, as the frequency of services on many routes has declined significantly.