Bengaluru (Karnataka) [India], January 2 (ANI): In a move that promises to bring further development to the cultural capital of Karnataka, Karnataka Minister for Minister of Law, Parliamentary affairs and Legislation of Karnataka HK Patil announced that the state cabinet has approved the creation of a separate corporation for Dharwad.Along with this, a 15% increase in ticket prices for Karnataka State Road Transport Corporation (KSRTC) buses has been approved, set to take effect from January 5, 2025.Patil, addressing the media, said that the decision to create a separate corporation for Dharwad aligns with the government's plans to decentralize administration and promote the region's development."The cabinet has decided to make Dharwad, known as the cultural capital of Karnataka, a separate corporation," Patil said. The move is expected to help enhance the city's infrastructure, promote cultural preservation, and facilitate more localized administration.Alongside this announcement, Patil elaborated on the rationale behind the 15% hike in KSRTC bus fares. He stated that the fare increase was necessary due to ongoing financial challenges faced by the corporation."This 15% has been raised because of the deficit that the corporation is currently facing... With this increase, there will be a return of Rs 74.84 crores every month," Patil explained.The fare hike comes after a 10-year gap and is aimed at covering the growing operational costs of KSRTC, which have been impacted by rising fuel prices and other factors.Patil also said that similar fare increases had been implemented in other corporations five years ago when diesel prices were significantly lower."The price in other corporations, the enhancement of rates, was done five years back when the rate of diesel was around 68 rupees," he noted. The new hike is attributed to the rise in diesel prices, salary increments for workers, and other economic factors.The increased fares will apply to KSRTC buses across the state, and the hike is expected to generate significant revenue, helping the corporation bridge its financial deficit."The government has given the permission to increase the rate to 15% and this will be applicable on corporation buses. The new fare will be applicable from the 5th of January," Patil added. (ANI)