Business Expectations Index Surveys on India GDP

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Business Expectations Index Surveys on India GDP is deeply focused upon evaluating the recent and predominant conditions of the industrial sectors in India along with the various problems faced by the same. Thus, the business surveys on India GDP play the role of a measuring instrument or barometer in the economic life of the country.

Business Expectations Index Surveys on India GDP at a glance-

The government of India has incorporated the facility of Business Expectations Index Surveys on India GDP and it has surfaced out as one of the widely popular feature in the Indian economy. NCAER and the Council of Applied Economic did few surveys on the industrial sectors in India GDP. These are known as Business Expectations Surveys [BES], which came into force since 1991 and occurs on a quarterly basis. The variations in the surveys presented by the Business Confidence Index (BCI) depicts that the similarities highlighted in different industrial sectors in Indian economy while doing the survey are the basic consequence of the different macro-level conditions.

Motive of the Business Expectations Index Surveys on India GDP

The chief aim of the business expectations surveys on India GDP is to assess the prevalent conditions in the industrial sectors in Indian economy. It also focuses on various issues faced by these industrial sectors. The main motive of these business surveys is to bring out the merits and demerits of the economic life of India mainly so that efficient steps can be taken by the respective governments to ameliorate the conditions. The surveys basically act as a barometer in determining various aspects of the business conditions. NCAER and Council of Applied Economic, which was later known as Business Confidence Index (BCI), were the two organizations that largely deal with the business expectation surveys.

Points covered in business expectation surveys

BCI calculates the programme on the basis of the number of positive responses given by each organization. This apparently portrays the contribution as well as impact of the business sectors on India GDP. The questions included in the Business Expectations Index Surveys on India GDP usually focuses upon:
  • The aggregate economic conditions of the firm for the coming six months
  • Financial position of the organization in the coming six months
  • A comparative analysis of the investment ratio in the last six months
  • Current capacity range with respect to the optimal level

Areas captured by BCI in it's surveys

BCI does its surveys with a concentration on the integrated macro environment that includes the infrastructural issues, social and political conditions of the industrial sectors, and the regional level policies that are faced by the respondents. Therefore the surveys done by the BCI are more elaborate as it covers the entire business environment as a whole.