Need long-term goals to shield farm sector from vagaries of nature: RBI chief

Mumbai: India needs to set long-term goals to insulate the farm sector from the vagaries of nature, Reserve Bank of India Governor Raghuram Rajan told a local television channel on Wednesday.

Rajan's comments came a day after he surprised investors with a steeper-than-expected interest rate cut to juice up economic growth.

India's farm output has taken a hit after two successive years of poor summer rains, stoking prices of some food items.

In an interview with a news channel, Rajan also urged wary Indian corporates to start making fresh investments.