Reserve Bank of India

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India. The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as: "to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth."

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    • Industrial Outlook Survey of the Manufacturing Sector in India
      abril 2024
      Fonte: Reserve Bank of India
      Carregamento por: Knoema
      Acesso em 06 abril, 2024
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       The 99th round of the Industrial Outlook Survey (IOS) encapsulates qualitative assessment of the business climate by Indian manufacturing companies for Q2:2022-23 and their expectations for Q3:2022-23. In all, 1,234 companies responded in this round of the survey. The additional response block for assessing the outlook on key parameters for two more quarters, which was introduced in the wake of uncertainties since the onset of the COVID-19 pandemic, was continued in this round of survey. A. Assessment for Q2: 2022-23 Business conditions in the manufacturing sector moved further on the recovery path during Q2:2022-23 as the impact of the COVID-19 pandemic ebbed further; respondents maintained positive assessment for production, order books, capacity utilisation, employment and foreign trade situations, though the sentiments were marginally tempered from the previous round of the survey. Manufacturers assessed continued pressures from rising cost for raw materials, salary outgo and the cost of finance during the quarter; they, however, perceived some moderation in the pace of increase in raw material cost. Respondents reported deceleration in the pace of rise in selling prices during Q2:2022-23; their sentiments on profit margin for the quarter deteriorated. Overall, business sentiments in the manufacturing sector remained positive, albeit with some moderation; the business assessment index (BAI) stood at 106.7 in Q2:2022-23 as compared with 110.7 in the previous quarter . B. Expectations for Q3: 2022-23 Respondents remained optimistic on demand conditions during Q3:2022-23, though it waned marginally, as reflected in their expectations on production, order books and employment. Pressures from purchase of raw materials and staff cost are likely to soften during Q3:2022-23. Selling prices and profit margins are expected to rise further; lower share of respondents expect further rise in selling prices as well as rise in profit margins during the ensuing quarter vis-à-vis the survey round. Overall, manufacturers remained optimistic about business conditions: the business expectations index (BEI) remained high at 134.4 in Q3:2022-23 though it moderated marginally from 137.7 in the previous quarter.