37 out of 45 years in the losses; ₹10,322 crore accumulated loss !

• MSRTC releases white paper on finances

• Shortage of buses, irregular fare hikes, illegal transport, and aging fleet blamed for losses

Mumbai, June 23 – The Maharashtra State Road Transport Corporation (MSRTC) released a white paper on its financial status on June 23, revealing a grim performance history: out of its 45-year existence, the corporation has incurred losses in 37 years. As of the financial year 2023–24, MSRTC’s accumulated losses stand at a staggering ₹10,322.32 crore. The move follows directives issued in May 2025 by Transport Minister Mr Pratap Sarnaik to publicly disclose MSRTC’s financial condition.

The white paper attributes the mounting losses to key factors including a persistent shortage of buses, irregular fare revisions, rampant illegal transport operations, and an overreliance on outdated vehicles.

In 2023–24, the MSRTC generated a revenue of ₹9,868.64 crore, while its expenditure—including fuel, spare parts, passenger tax, and other operational costs—totaled ₹10,865.99 crore. This resulted in a net loss of ₹997.35 crore for the year. Such trends have been consistent across several years, with the corporation continually operating at a deficit.

Accumulated losses more than doubled in six years !

In 2018–19, MSRTC’s accumulated loss stood at ₹4,603.08 crore. Since then, losses have escalated sharply, crossing ₹10,322 crore by 2023–24—more than double in just six years.

Over ₹3,514 crore in pending dues !

As of 2025, dues exceeding ₹3,514 crore remain unsettled. This includes ₹3,297.65 crore under various heads such as provident fund, employee insurance schemes, passenger tax, and bank loans. Additionally, outstanding payments to diesel suppliers and inventory vendors total ₹217.19 crore.

The white paper lays bare the deep financial crisis plaguing the state-run transport utility, underscoring the urgent need for structural reforms and sustained governmental intervention.

The white paper also outlines certain revenue-boosting measures such as the inclusion of new buses in the fleet, commercial development of MSRTC-owned land parcels, and deployment of vehicles on a rental basis.

Overall, the document appears to attribute MSRTC’s losses largely to technical and operational factors, effectively deflecting responsibility from administrative or policy-level shortcomings.

Here is a bar chart showing the MSRTC status for the year 2024–25, with values displayed in thousands for better visualization.

• Total Employees lead significantly, followed by Annual Passengers and Annual Distance.
• Bus Depots and Route Shelters form the smallest segments in comparison.