Govt to release funds to clear RTC arrears

The Telanagana government has consented to release the first installment of Rs 250 crores to clear salary arrears for RTC employees.

The arrears will be calculated from 2013 onwards, thus resulting in a total expenditure of Rs 1,500 crores. While 50 per cent of the amount will be given in bonds, the rest will be divided in three equal installments. The state government is expected to make an announcement, on Monday, regarding releasing the first installment.