In January 2019, the Reserve Bank of India initiated two surveys namely, Industrial Outlook Survey (IOS) and _______.
Services and Infrastructure Outlook Survey (SIOS)
Understanding Reserve Bank of India (RBI) Surveys
The Reserve Bank of India (RBI) conducts various surveys to gather information about different sectors of the economy. These surveys help the RBI understand the current economic situation and anticipate future trends, which is crucial for making monetary policy decisions. Understanding the business sentiment and outlook of key sectors like industry, services, and infrastructure provides valuable insights into the economy's health.
Identifying the RBI Surveys Initiated in January 2019
The question specifically asks about two surveys that the RBI initiated in January 2019. One survey mentioned is the Industrial Outlook Survey (IOS). The other survey's name is among the given options.
The Industrial Outlook Survey (IOS) collects qualitative information from companies in the manufacturing sector on their assessment of the business situation and their expectations for the next quarter and the next six months. This survey helps gauge the sentiment of the industrial sector.
To identify the second survey, we examine the options provided:
- Services Outlook Survey (SOS)
- Services and Infrastructure Outlook Survey (SIOS)
- Services Trade Survey (STS)
- Services and Trade Outlook Survey (STOS)
Based on information regarding RBI's survey initiatives in January 2019, the second survey initiated alongside the Industrial Outlook Survey (IOS) was the Services and Infrastructure Outlook Survey (SIOS).
The Services and Infrastructure Outlook Survey (SIOS) aims to capture the sentiment of companies in the services and infrastructure sectors regarding the business situation for the current quarter and expectations for the next quarter and the next two quarters.
Therefore, the two surveys initiated by the Reserve Bank of India in January 2019 were the Industrial Outlook Survey (IOS) and the Services and Infrastructure Outlook Survey (SIOS).
Revision Table: Key RBI Surveys
| Survey Name | Abbreviation | Sectors Covered | Purpose |
|---|---|---|---|
| Industrial Outlook Survey | IOS | Manufacturing Industry | Gauge business sentiment and expectations |
| Services and Infrastructure Outlook Survey | SIOS | Services and Infrastructure | Gauge business sentiment and expectations |
Additional Information on RBI Surveys
The RBI conducts a variety of periodic surveys besides IOS and SIOS to gather timely information from businesses and households. These surveys are valuable inputs for assessing the economic situation and formulating policy.
- Some other important RBI surveys include Consumer Confidence Survey (CCS), Inflation Expectations Survey of Households (IESH), Survey of Professional Forecasters on Macroeconomic Indicators (SPF), and Order Books, Inventories and Capacity Utilisation Survey (OBICUS).
- The results of these surveys are often published by the RBI, providing transparency and allowing the public and analysts to understand the current economic outlook as perceived by different economic agents.
- The IOS and SIOS were specifically introduced in January 2019 to broaden the coverage of outlook surveys beyond manufacturing, incorporating services and infrastructure which are significant parts of the Indian economy.
Important Questions from RBI
Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?
1. It decides the RBI's benchmark interest rates.
2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. It functions under the chairmanship of the Union Finance Minister.
Select the correct answer using the code given below:
The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to
In the context of Indian economy; which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’?
(1) To enable the Central Bank to control the amount of advances the banks can create
(2) To make the people’s deposits with banks safe and liquid
(3) To prevent commercial banks from making excessive profits
(4) To force the banks to have sufficient vault cash to meet their day-to-day requirements
Select the correct answer using the code given below.
If the interest rate is decreased in an economy, it will
The lowering of Bank Rate by the Reserve Bank of India leads to:
