MANSFIELD residents will be able to access cheap public transport as the Victorian Government delivers on its promise to cap fares at the same price as a metro daily fare from Friday, March 31.

Residents will be able to catch both bus and train V/Line services for $9.20 for a full fare or $4.60 for a concession.

This is down compared to a $62 return bus fare between Mansfield and Melbourne.

Fares for regional myki passes for travel between 28 and 365 days a year will also be capped at the Melbourne rate, currently $5.52 per day.

The Department of Transport and Planning says cheaper fares will encourage Victorians to connect with family and friends easier and will continue to support regional tourism and business impacted by COVID–19 and floods.

A spokesperson said, "The regional fare cap will transform the way Victorians travel across the state, bringing affordable and accessible public transport to more people, making Victoria a more liveable and sustainable state."

A further $109 million is being invested by the state government to improve Victoria's suburban and regional bus services and bus stops this financial year, including a focus on regional areas.

The Department of Transport and Planning did not confirm when these fares would be bookable.