Riders will be hit with almost $30 million less in fare and toll hikes than the MTA had laid out earlier this year, even though the MTA faces a massive $15 billion deficit in its capital plan, officials said Wednesday.

The MTA will get a 3.6 percent boost in revenue from riders and drivers– down from the 4 percent it had initially called for when it released its budget in July.

The drop comes despite a $15 billion shortfall the MTA faces in its massive $32 billion capital plan, which was rejected by a state board in October.

Board members said the MTA will need new sources of revenue so it won’t have to keep borrowing billions of dollars.

“The New York City region has three out of four transit riders in the U.S.,” said Andrew Albert, who represents the NYC Transit Riders Council on the MTA board. “It’s shameful that we find ourselves in this position.”

Officials also said Monday that there would be over $400 million in safety investments as part of the MTA budget between 2015 and 2018.

Metro-North, which suffered five railroad accidents last year, will get almost $200 million of it.

Some of the money will go towards rules examiners, which makes sure workers follow the railroad’s regulations, and adding rail traffic controllers.