RBI Launches Quarterly Manufacturing Survey for Q2 2024

The Reserve Bank of India (RBI) has introduced its quarterly “Order Books, Inventories and Capacity Utilisation Survey” (OBICUS) for the manufacturing sector, aimed at informing monetary policy decisions. Since 2008, this survey has provided crucial insights into key metrics such as new orders, inventory levels, and capacity utilisation across manufacturing companies.

Key Data Collected

The survey gathers quantitative data on new orders received, backlog of orders, and pending orders throughout the quarter. It also details inventory levels, distinguishing between finished goods, work-in-progress, and raw materials.

Production and Capacity Utilisation Insights

Manufacturers report item-wise production quantities and values, comparing these figures against their installed capacity. The survey seeks to identify reasons behind any production or capacity changes during the quarter.

Impact on Monetary Policy

Data from OBICUS aids the RBI in estimating manufacturing sector capacity utilisation, a critical factor in shaping its monetary policy decisions. The confidential nature of company-level data ensures robust analysis without disclosure.

Continued Commitment

With OBICUS ongoing since 2008, the RBI reaffirms its commitment to comprehensively understanding and responding to the dynamics of India’s manufacturing landscape. This initiative underscores the central bank’s proactive approach to economic policymaking.