RBI Launches Quarterly Manufacturing Survey For Q2 2024
(MENAFN- KNN India)
Mumbai, Jul 6 (KNN)
The Reserve bank of India (RBI) announced on Friday the launch of its quarterly "Order Books, Inventories and Capacity Utilisation Survey" (OBICUS) for the manufacturing sector.
This survey, covering the April-June 2024 quarter, serves as a crucial input for the RBI's monetary policy formulation.
The survey collects a wide range of data from manufacturing companies. This includes information on new orders received during the quarter, as well as the backlog of orders at the beginning of the quarter and pending orders at its end.
The RBI also gathers detailed inventory information, breaking it down into categories such as finished goods, work-in-progress, and raw materials.
Another important aspect of the survey is the collection of item-wise production data. Companies are asked to provide both quantity and value of production during the quarter, comparing these figures to their installed capacity.
Additionally, the survey seeks to understand the reasons behind any changes in production levels or installed capacity during the period.
Using the responses collected, the RBI estimates the level of capacity utilisation in the manufacturing sector. This information, along with the other data gathered, provides valuable insights into the current state of manufacturing in India.
The RBI has been conducting OBICUS since 2008, demonstrating its long-standing commitment to understanding the dynamics of the manufacturing sector.
By continuing this survey, the central bank ensures it has access to up-to-date and relevant information, enabling it to make well-informed decisions on monetary policy that can impact the entire economy.
(KNN Bureau)
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