While announcing passenger fare hike in December, Bansal

had categorically stated that there would be no fare hike in the Rail Budget 2013-14. Railways is facing loss of Rs 25,000 crore in passenger segment and it is cross-subsidised from freight earning. Besides Railways require Rs 1.47 lakh crore for completing 347 ongoing projects across the country. "We were expecting Rs 6,600 crore after the recent passenger fare hike. But the Rs 10.80 per litre diesel hike would cost railways Rs 3,300 crore a year," Bansal said, "Fund is required for laying new lines, development of stations and for ongoing projects," he said while adding "fare is one source but funds can be garnered from other non-traffic avenues which we are exploring." Railways has 43,000 hectares of vacant land which it is trying for commercial utilisation.