The Reserve Bank of India (RBI) has launched three important surveys to gather feedback from households, businesses and professional forecasters, as it prepares for its upcoming monetary policy decisions.
The surveys are designed to help the central bank understand inflation expectations, business conditions and the broader economic outlook. The findings will provide valuable inputs to the Monetary Policy Committee (MPC) while deciding the future course of interest rates.
One of the surveys focuses on Inflation Expectations of Households, covering nearly 6,000 urban households across 19 major cities. Participants are being asked about their expectations for price changes over the next three months and one year. The survey captures perceptions on the prices of food, housing, fuel, transport and other essential items that directly affect household budgets.
The RBI has also begun its Industrial Outlook Survey, which collects responses from manufacturing companies on production, order books, capacity utilisation, employment and overall business confidence. The survey helps the central bank assess how industries expect business conditions to evolve in the coming months.
The third exercise is the Survey of Professional Forecasters, involving economists, research institutions and market experts. They provide projections on key economic indicators such as GDP growth, inflation, interest rates, exchange rates and other macroeconomic variables.
The RBI clarified that the survey results reflect the views of respondents and should not be treated as the central bank’s official assessment or policy stance.
The latest round of surveys comes at a time when inflation has moderated and the RBI continues to closely monitor domestic demand, global uncertainties and changing financial conditions. Policymakers are expected to use the findings alongside economic data while assessing risks to growth and inflation.
By collecting regular feedback from consumers, businesses and experts, the RBI aims to gain a clearer picture of the economy beyond official statistics.