Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz
you are here: HomeNewsIndia

RBI launches inflation expectations survey; to gather responses over telephone amid pandemic

The RBI has been regularly conducting the survey to elicit subjective views of the households on price movement across various cities of the country. The results of the survey are used as inputs for the monetary policy.
Jun 30, 2020 / 10:20 PM IST
File image
File image

The Reserve Bank of India has launched the inflation expectations survey of households and responses of the participants will be gathered over telephone in view of the coronavirus pandemic.

The RBI has been regularly conducting the survey to elicit subjective views of the households on price movement across various cities of the country. The results of the survey are used as inputs for the monetary policy.

The July 2020 round of the Inflation Expectations Survey of Households has been launched, the central bank said in a release on Tuesday.

Hansa Research Group, Mumbai has been engaged to conduct the survey of this round on behalf of the RBI over telephone instead of the regular personal interview mode in view of the pandemic.

"For this purpose, the selected households will be approached by the agency and they are requested to provide their response over telephone," the release said.

Close

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

The survey aims at capturing subjective assessments on price movements and inflation, of approximately 6,000 households, based on their individual consumption baskets, across 18 cities.

The cities that would be covered are Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram.

The survey would seek qualitative as well as quantitative responses from households on price changes -- general prices as well as prices of specific product groups -- for the three months ahead as well as in the one year ahead period, as per the release.

In the wake of the pandemic, the government released truncated retail inflation data for April and May.

The RBI would also conduct July 2020 round of Consumer Confidence Survey (CCS) to seek qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households' income and spending.

The survey, which would also be done over telephone, would cover approximately 5,400 respondents across 13 cities.

Findings from both the surveys, which are conducted on a regular basis, are used by the RBI while deciding the monetary policy.
PTI

stay updated

Get Daily News on your Browser
Sections