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Yesterday, New Jersey Transit’s board approved a revised fare and service plan to help close the agency’s $300 million budget gap.

The plan, which takes effect May 1, includes a 10 percent increase for light-rail and bus rides, and a 25 percent increase for one-way commuter-rail rides. However, monthly discounts for commuter-rail tickets will remain in place.

Off-peak rail roundtrip discounts will not be sold after April 30 and will not be accepted after May 23.

Overall, the revised fare plan reduces system-wide fare increases to 22 percent, authority officials said in a prepared statement.

“Make no mistake, this is still a very painful fare increase. We understand that,” said NJ Transit Executive Director Jim Weinstein. “We have done our very best to minimize the financial pain to those who can least afford to pay more, while still being fiscally responsible."