Chatterjee said the government had been able to resolve all disputes that had appeared in a previous circular and the revised fares would come into force with immediate effect.
Reiterating that under no circumstances the hike in bus fares would be more than Re one in any stage for Kolkata and suburban routes within 24 km, he said the intra-state ordinary bus fare upto 4 km would be Rs 5.
For the intra-state express and semi-deluxe buses, fares would be Rs 6.50 upto 6 km with a hike in fare of Re one only.
However, the inter-state express and semi-deluxe buses fares would remain unchanged at Rs 10 upto 6 km, he said adding in all cases the hike in subsequent stages were minor.
The revised fares were announced after Chief Minister Mamata Banerjee who had directed Transport Minister Madan Mitra, who was present during the announcement today, to review the hike announced towards the end last month.
"It is being observed and complaints have been received that fare has been increased to Rs 3 and Rs 4 which is uncalled for," the chief minister had said.
On November 1, fares of buses, mini-buses and taxis were increased following long-pending demands by operators.