Bengaluru: Transport minister Byrathi Suresh said a revision in bus fares is under consideration in view of rising fuel prices, spare parts costs and overall operational expenses. However, he clarified that no formal proposal has yet been submitted to the govt by the transport department.The minister added that the four state transport corporations have collectively incurred losses of around Rs 5,000 crore due to increased operating costs. He said a decision on fare revision will be taken after weighing both commuter interests and the financial health of the transport corporations.The minister said during earlier presentations, the corporations had suggested a fare hike of around 24% to offset escalating costs.
