PANJIM: The loss-making Kadamba Transport Corporation Limited (KTCL) has recorded an income of Rs 28.83 crore from the concessional pass scheme from January 1, 2013 till February 2017.
The corporation has also received the subsidy mobility advance of Rs 30.4 crore from the government since the scheme came into force in the year 2012. The scheme which received an overwhelming response has issued 5.90 lakh passes till February 2017.
For the last financial year the corporation has come up in profit of Rs 5.5 crore for the first time in last 35 years since its inception.
The State government has been paying subsidies and various grants regularly to the corporation which has a fleet of almost 500 buses.
Being the largest public transport agency in the State, the corporation had never been in profit despite support from government.
For the year 2012-13 the government has released grants of Rs 63.66 crore, in the year 2013-14 it was Rs 77.96 crore, in 2014-15 it was Rs 80.41 crore and 2015-16 it was Rs 33.9 crore to the corporation as subsidy towards concession passes, monthly passes, payment of staff, for operating buses in schools etc.
Officials, however, claim that the financial position of KTCL is not sound as it is incurring losses on a daily basis with increasing expenditure as against revenue generation.
