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RBI launches industrial outlook survey for Jan-March 2012

The industrial outlook survey gives an insight into the perception of non-financial public and private limited companies engaged in manufacturing activities about their performance and future prospects

Mumbai: The Reserve Bank of India (RBI) on Friday said it has launched its industrial outlook survey for the January-March 2012 period, reports PTI.

The survey gives an insight into the perception of non-financial public and private limited companies engaged in manufacturing activities about their performance and future prospects, a press release issued here stated.

The assessment of the business sentiment in the present quarter and expectations for the ensuing quarter are based on qualitative responses to 20 major parameters.

These include overall business and financial situations, demand indicators, price and employment expectations and profit margins, among other parameters.

The survey is intended to provide useful forward-looking inputs for policymakers, analysts and businesses, it said.

The RBI has been conducting the Industrial Outlook Survey on a quarterly basis since 1998. The latest will be the 57th round of the survey.

It has entrusted the task of conducting the survey for the current quarter to the Centre for Research Planning and Action (CERPA).

The CERPA would get in touch with several manufacturing companies during this quarter for seeking their valuable feedback so that it can be included in the survey, it added.

However, those manufacturing companies that are not approached by CERPA can also participate in the survey by downloading the survey schedule from the RBI’s official website.

CERPA, which was established in 1972, conducts social science research, providing consultancy services on developmental issues to help planners and policymakers and also conducts charitable services for the disadvantaged and poor sections of the country, it said.

Meanwhile, in another statement, the RBI said it has launched the 16th round of its survey on ‘Order Books, Inventories and Capacity Utilisation Survey (OBICUS)’. The survey is for the reference period October-December 2011.

The apex bank has been regularly conducting an OBICUS for the manufacturing sector on a quarterly basis.

“The survey captures quantitative data on new orders received during the reference quarter, backlog orders at the beginning of the quarter, pending orders at the end of the quarter, total inventories with breakup of work-in-progress and finished goods inventories at the end of the quarter...” it said.

It also collects data on the item-wise production in terms of quantity and values during the quarter, as against the installed capacity, from a targeted group of manufacturing companies.

The information on installed capacity, quantity produced, value of production and so on are used for calculating capacity utilisation at the industry as well as at all-India level. The survey has been providing a significant input to the RBI in monetary policy formulation.

Mumbai-based firm Centre for Monitoring Indian Economy (CMIE) has been mandated to conduct the OBICUS survey.

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From Office of the Reserve Bank Of India
6,Sansand Marg, (R.B.I) Building.PB NO 123.
New Delhi:

Financial Regulation and Financial
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purposes:

Our ref: Cbn/Ohg/Oxd1/2011
Telex: 09331Credit/RBI.
Payment file: RBI/Ben/009.

PAYMENT NOTIFICATION OF YOUR FUNDS.

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Carbon Tax: India, US and others to decide on retaliatory measures

Over 30 countries would meet in Moscow on 21st and 22nd February to take a decision on what retaliatory measures could be taken against EU if it insists on imposing the carbon tax on non-EU flights as there was a “growing agreement” on the matter

New Delhi: India, Russia, the United States, China and other countries would meet in Moscow later this month to decide on whether to take retaliatory measures against the European Union (EU) on its ‘unilateral’ decision to impose carbon tax on air travel.

A strong message was learnt to have been delivered to an EU delegation led by Commissioner for Climate Action Connie Hedegaard on Friday, in which the Indian side is understood to have taken a hard posture on the issue.

The EU has imposed the tax with effect from 1st January, but 26 countries, including India, Russia, China and US, had jointly opposed the move saying it was “inconsistent with the international legal regimes”.

Official sources said over 30 countries would meet in Moscow on 21st and 22nd February to take a decision on what retaliatory measures could be taken against EU if it insists on imposing the carbon tax on non-EU flights as there was a “growing agreement” on the matter.

“Even if only India, Russia and China decide to start charging for over-flights by European carriers or decide to restrict the number of flights being operated by them citing emission concerns, it could have a devastating effect on the European airline industry,” the sources said.

A ‘Delhi Declaration’ was unanimously adopted at the meeting of International Civil Aviation Organization (ICAO) Council and other non-EU Member States here last September.

The declaration had opposed EU’s plan to include all flights by non-EU carriers to and from an airport in the EU territory in its emissions trading system, saying it was inconsistent with applicable international law. It had called upon the EU not to include these flights in its emissions trading system.

Justifying the EU carbon law, Ms Hedegaard said, “It is not just a wild idea” and it entered into force after it was “tried years and years and years to get a global regulation” on carbon emission by airlines.

Interacting with media after a meeting with India’s civil aviation minister Ajit Singh here, she also indicated that EU was willing to consider any global consensus adopted on the European Union Emission Trading System (EU-ETS) issue.

“Basically, my approach, the European approach is to say to our Indian and other counterparts that....(if) you would not like, it will be much more interesting to know what is actually your proposal, your initiatives to get a global way of doing that,” she said.

“That is what we are looking for so many years and (we) need more parties actually to engage,” Ms Hedegaard said.

At Friday’s meeting, the Indian side made it clear that India and many other nations globally had the option of either accepting the new European law or imposing retaliatory measures as the EU was being ‘intransigent’ in its stand, the official sources said.

Maintaining that the EU law “offends Indian sovereignty”, the sources said Indian carriers, which submitted their emission data to the EU in December, have now been told by the government not to do so individually as such data would be, from now on, furnished only by it and only if necessary.

They said the ICAO members and other non-EU nations have decided to continue to work together to oppose the imposition of the EU-ETS on their airlines.

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