Summary:
According to norms, the suppliers allow a credit period of 90 days and interest is recovered from the transport corporations after the end of this period. CHENNAI: Unavailability of former chief minister J Jayalalithaa to flag off 2,000 new government buses resulted in a loss of ?14.23 crore to the government, says a CAG report. A review of the performance by these corporations suggest that a cumulative loss of ?19,195 crore was reported in 2016-17. It was around ?16,100 crore the previous year. Some of these new buses were lying idle for more than one and a half years, according to the report tabled at the assembly on Monday.This was reported at a time when more than 60 % of government buses were declared over-aged and public were forced to battle with broken seats, footsteps and windows.Besides this, ageing fleet of state transport corporations had caused more than 6,700 fatal accidents in the last five years...