It is not stubborn attitude of railways. It is political (if not sibling) rivals who will go bonkers if fares are raised even by 10%. It is the bread and butter passengers (MST) who provide railways a steady all season income. Railways needs to review its expenditure on its employees which forms over 64% of its total revenue.
That apart, revenues should be raised just like they are reviewing petrol/diesel and LPG prices daily/monthly, in small increments like 5 Rs. Today railways has actually killed competition in low fare segment pushing them in red, too. Govt. should pay them subsidy to match fares with railways, too.