CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Reserve Bank of India (RBI) has initiated three important surveys aimed at improving the formulation of its monetary policy. These surveys, focusing on inflation expectations and consumer confidence across both urban and rural populations, will provide critical insights for the upcoming meetings of the Monetary Policy Committee (MPC).
Inflation Expectations Survey Of Households (IESH)
The IESH aims to capture people’s perceptions about price trends based on their personal consumption experiences. Conducted in 19 major cities, the survey collects data that reflects households' views on both current and future inflation. This helps the RBI gauge public sentiment about inflation, which is a key consideration for monetary policy decisions.
Urban Consumer Confidence Survey (UCCS)
The UCCS evaluates consumer sentiment in urban areas, focusing on the general economic outlook, employment conditions, household income, spending habits, and price changes. Like the IESH, it is also carried out across 19 cities. The findings provide a snapshot of how urban households perceive the present and future state of the economy.
Rural Consumer Confidence Survey (RCCS)
Targeting households in rural and semi-urban regions, the RCCS spans 31 states and Union Territories. It measures the current economic conditions and expectations for the coming year in areas such as employment, inflation, and personal income. This survey offers vital insights into the economic perspectives of rural India.
These Surveys Matter
These surveys play a key role in shaping the RBI’s policy approach by offering real-time data on household expectations and behaviour. Understanding consumer confidence and inflation perceptions helps the central bank make better-informed decisions to support economic stability and growth.
Upcoming Monetary Policy Meeting
The next meeting of the Monetary Policy Committee is scheduled for June 4–6, 2025. The data gathered through these recent surveys will be central to the committee’s deliberations, helping align policy decisions with ground-level economic realities.
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