Indian Railways is eager to hike passenger fares as its financial condition is not good and otherwise it will not survive, Minister of State for Railways KJ Surya Prakash Reddy said.

In a recent interview, Mr. Reddy said, “The passenger fares should be hiked by 5 paise to 10 paise per km in the Rail Budget (2013-14). The financial condition of Railways is not good. We need funds, otherwise Railways will not survive.”

Railways’ loss in the passenger segment jumped from nearly Rs 18,000 crore in the last financial year to Rs 22,000 crore in current financial year.