New Jersey Transit has released a proposed $2.1 billion operating budget for the coming fiscal year that includes no fare increases and a projected ridership increase of nearly 2 percent.

The agency also released Friday a proposed $1.7 billion capital plan that assumes more than $500 million from the soon-to-be-depleted Transportation Trust Fund.

The proposal will be presented at NJ Transit's board administration committee meeting on Wednesday.

The operating budget includes a proposed state subsidy of $140 million, a hefty increase over the $33 million subsidy in the current fiscal year.

The budget also projects passenger revenue growth of 1.8 percent, despite the current year's growth falling 1.2 percent below projections. That decrease amounts to more than $10 million.

Low gas prices are considered a factor.

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