India, July 22 -- After a decade, the Brihanmumbai Electric Supply and Transport (BEST) undertaking has received the state government's approval to procure 5,000 self-owned AC electric buses at an estimated cost of Rs.6,500 crore, marking a major shift away from its dependence on the wet-lease model.

Senior BEST officials confirmed on Tuesday that deputy chief minister Eknath Shinde approved the proposal, with the undertaking receiving the official communication during an ongoing BEST committee meeting.

"We have received the minutes of the meeting from the deputy chief minister's office approving the procurement of 5,000 AC e-buses for our owned fleet. The buses will be self-owned, with drivers, as in the past, and will be procured at a...