Need long-term goals to shield farm sector from vagaries of nature: RBI chief
30 Sep 2015 4:28 PM GMT
Raghuram Rajan cut the key repo rate by 50 basis points to a 4-1/2 year low
Reserve Bank Governor Raghuram Rajan (Photo: PTI)
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.
( Source : reuters )
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