Belagavi: Transport Minister Ramalinga Reddy has said the State government was exploring the possibility of reducing bus fares in the wake of reduction in the diesel price.

Reddy has directed the Principal Secretary of the Transport Department to submit a proposal on how the fare could be cut to ease the burden on commuters. It is learnt that the department would be submitting its proposal in a couple of days.

On Monday, Reddy, while replying to a question by BJP member Arun Shahapur in the Assembly, had said that there was no proposal before the government to bring down bus fares, which were hiked after an increase in the diesel price.

The minister, in his reply to the member, pointed out that since October 2014, the diesel price had come down by Rs 6.86, and the four State-owned transport corporations, reeling under loss, were now hoping to save Rs 146.80 crore.

He had said that the Karnataka State Road Transport Corporation was hoping to save Rs 53.55 crore, the Bangalore Metropolitan Transport Corporation Rs 35.88 crore, and the other two corporations Rs 57.37 crore.