India, July 14 -- The cash-strapped Maharashtra State Road Transport Corporation (MSRTC) has proposed commercialising its 251 bus depots across the state under the public-private partnership (PPP) model, with the aim of earning around Rs.600 crore annually in rental income from the redeveloped properties, according to officials familiar with the matter.

MSRTC officials presented the proposal to chief minister Devendra Fadnavis on Monday, who directed them to submit it to the state government with all necessary details for approval.

The proposal is the latest in a series of attempts to monetise MSRTC's depots to improve the loss-making corporation's finances. The corporation first unveiled a depot redevelopment policy nearly two decades ...