The Industrial Outlook Survey conducted during April-June 2015, provides qualitative assessment of business situation of companies in the Indian manufacturing sector for Q1:2015-16 and their expectations for the ensuing quarter Q2:2015-16. The survey elicited response from 1,299 manufacturing companies. Highlights: | Summary Table: Net response2 (NR in %) comparison over previous quarter | | Parameters | Assessment period | Expectation period | | Q4:2014-15 | Q1:2015-16 | Q1:2015-16 | Q2:2015-16 | | Production | 21.7 | 16.3 | 28.7 | 28.9 | | Order Books | 16.3 | 13.2 | 27.3 | 25.8 | | Pending Orders | 10.8 | 13.6 | 6.2 | 8.5 | | Capacity Utilisation | 8.2 | 6.7 | 18.7 | 17.6 | | Exports | 10.1 | 10.1 | 19.5 | 19.6 | | Imports | 9.4 | 10.7 | 12.4 | 9.9 | | Employment | 8.4 | 7.4 | 8.8 | 9.9 | | Financial Situation | 14.9 | 14.4 | 26.3 | 25.1 | | Availability of Finance | 12.6 | 11.4 | 18.1 | 16.7 | | Cost of Finance | -17.7 | -12.1 | -13.0 | -8.7 | | Cost of Raw Material | -32.8 | -35.9 | -32.8 | -32.9 | | Selling price | 2.6 | 3.1 | 10.3 | 7.9 | | Profit Margin | -12.5 | -14.2 | -0.5 | -1.6 | | Business Situation | 21.2 | 19.6 | 36.0 | 32.0 | | Salary | 24.5 | 34.2 | 23.5 | 27.3 | | Business Expectation Index3 | 106.7 | 104.8 | 115.2 | 113.1 |
Assessment Quarter (Q1: 2015-16) -
Lower level of optimism is observed in the major parameters such as production, order books, capacity utilisation, employment, financial situation, availability of finance along with increased pessimism in raw material cost and profit margin during the assessment quarter. -
As a result, the business sentiments of the Indian manufacturing sector, as inferred from movements in Business Expectation Index (BEI), decreased in the assessment quarter (106.7 to 104.8). Expectation Quarter (Q2: 2015-16) -
The outlook on business sentiments weakened in Q2:2015-16 (115.2 to 113.1) from that of the previous quarter implying decrease in optimism. -
This could be attributed to the reduced optimism in order books, capacity utilisation, imports, and overall business situation along with increased pessimism in profit margin. Investment Intention during the year 2014-15 and 2015-16 - An additional data block (Block 6) is annually canvassed in the April-June quarter for the purpose of getting an assessment of the investment intentions of the manufacturing companies in fixed capital, i.e. buildings, plants & machinery, etc. More than half of the companies (53 per cent) reported having made investment during the year 2014-15, of which 78 per cent companies planned for further investment in 2015-16. Among the manufacturing industries ‘basic metals & metal products’, ‘transport equipment’, ‘textiles’ and ‘food products’ industries expressed higher investment intentions for 2015-16. However, out of the 47 per cent companies who have not invested in FY: 2014-15, 10 per cent companies planned for investment in 2015-16.
| Table 1: Assessment & Expectation for Production | | (Percentage responses)@ | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response# | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 34.4 | 17.2 | 48.4 | 17.2 | 39.2 | 12.2 | 48.6 | 27.1 | | Q2:2014-15 | 1225 | 35.2 | 16.7 | 48.1 | 18.5 | 43.4 | 9.7 | 46.8 | 33.7 | | Q3:2014-15 | 2088 | 34.9 | 19.3 | 45.9 | 15.6 | 43.6 | 9.8 | 47.3 | 34.5 | | Q4:2014-15 | 1565 | 37.2 | 15.5 | 47.3 | 21.7 | 42.6 | 10.3 | 47.0 | 32.3 | | Q1:2015-16 | 1299 | 34.1 | 17.8 | 48.1 | 16.3 | 39.6 | 10.9 | 49.5 | 28.7 | | Q2:2015-16 | | | | | | 40.3 | 11.4 | 48.3 | 28.9 | ‘Increase’ in production is optimistic.
@:Due to rounding off percentage may not add up to 100. This is applicable for all the tables from 1 to 17.
#: Net Response (NR) is the difference of percentage of the respondents reporting optimism and that reporting pessimism. The range is -100 to 100. Any value greater than zero indicates expansion and any value less than zero indicates contraction. |
| Table 2: Assessment & Expectation for Order Books | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 31.8 | 15.4 | 52.9 | 16.4 | 36.2 | 11.5 | 52.3 | 24.6 | | Q2:2014-15 | 1225 | 31.2 | 15.8 | 53.0 | 15.4 | 38.2 | 9.1 | 52.6 | 29.1 | | Q3:2014-15 | 2088 | 30.5 | 19.0 | 50.5 | 11.6 | 40.0 | 8.4 | 51.6 | 31.6 | | Q4:2014-15 | 1565 | 32.3 | 16.0 | 51.7 | 16.3 | 38.6 | 9.8 | 51.6 | 28.7 | | Q1:2015-16 | 1299 | 30.8 | 17.7 | 51.5 | 13.2 | 37.8 | 10.5 | 51.7 | 27.3 | | Q2:2015-16 | | | | | | 37.4 | 11.6 | 51.0 | 25.8 | | ‘Increase’ in order books is optimistic. |
| Table 3: Assessment & Expectation for Pending Orders | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Below Normal | Above Normal | Normal | Net response | Below Normal | Above Normal | Normal | Net response | | Q1:2014-15 | 1293 | 15.6 | 5.1 | 79.3 | 10.5 | 14.0 | 5.8 | 80.1 | 8.2 | | Q2:2014-15 | 1225 | 16.8 | 4.2 | 79.1 | 12.6 | 12.3 | 5.7 | 82.0 | 6.5 | | Q3:2014-15 | 2088 | 18.3 | 4.4 | 77.3 | 13.9 | 11.8 | 5.2 | 83.1 | 6.6 | | Q4:2014-15 | 1565 | 17.7 | 6.9 | 75.3 | 10.8 | 12.4 | 5.3 | 82.4 | 7.1 | | Q1:2015-16 | 1299 | 18.6 | 5.1 | 76.3 | 13.6 | 13.1 | 6.9 | 80.1 | 6.2 | | Q2:2015-16 | | | | | | 14.6 | 6.1 | 79.4 | 8.5 | | Pending orders ‘Below Normal’ is optimistic. |
| Table 4: Assessment & Expectation for Capacity Utilisation | | (Percentage responses) | | Parameter | Options | Assessment | Expectation | | Q1:20 14-15 | Q2:2014-15 | Q3:2014-15 | Q4:2014-15 | Q1:2015-16 | Q2:2014-15 | Q3:2014-15 | Q4:2014-15 | Q1:2015-16 | Q2:2015-16 | | Capacity Utilisation (CU)-(main product) | Increase | 22.3 | 23.8 | 22.4 | 23.5 | 23.3 | 29.5 | 29.5 | 28.2 | 27.5 | 27.7 | | No Change | 61.3 | 59.5 | 60.1 | 61.2 | 60.0 | 60.4 | 60.9 | 61.6 | 63.7 | 62.1 | | Decrease | 16.3 | 16.7 | 17.5 | 15.3 | 16.7 | 10.1 | 9.6 | 10.2 | 8.8 | 10.2 | | Net Response | 6.0 | 7.1 | 4.9 | 8.2 | 6.7 | 19.4 | 19.9 | 18.1 | 18.7 | 17.6 | | Level of CU (compared to the average in last 4 quarters) | Above normal | 10.3 | 8.7 | 9.6 | 10.6 | 10.2 | 10.6 | 10.0 | 10.6 | 12.1 | 10.5 | | Normal | 71.8 | 72.3 | 70.8 | 70.6 | 71.3 | 76.6 | 77.3 | 76.8 | 75.6 | 75.5 | | Below Normal | 17.9 | 19.0 | 19.5 | 18.9 | 18.6 | 12.7 | 12.7 | 12.6 | 12.3 | 13.9 | | Net Response | -7.6 | -10.3 | -9.9 | -8.3 | -8.4 | -2.1 | -2.7 | -2.0 | -0.2 | -3.4 | | Assessment of Prod. Capacity (with regard to expected demand in next 6 months) | More than adequate | 13.8 | 13.3 | 14.0 | 14.7 | 15.1 | 12.9 | 13.0 | 12.7 | 13.9 | 15.8 | | Adequate | 78.1 | 78.7 | 77.0 | 76.9 | 76.9 | 80.3 | 80.9 | 80.4 | 79.2 | 77.5 | | Less than adequate | 8.1 | 8.0 | 9.0 | 8.5 | 8.0 | 6.8 | 6.1 | 6.9 | 6.9 | 6.8 | | Net Response | 5.7 | 5.3 | 5.0 | 6.2 | 7.2 | 6.1 | 6.9 | 5.8 | 7.0 | 9.0 | | ‘Increase’ in capacity utilisation is optimistic. |
| Table 5: Assessment & Expectation for Exports | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 24.6 | 14.1 | 61.2 | 10.5 | 31.7 | 10.0 | 58.3 | 21.6 | | Q2:2014-15 | 1225 | 25.6 | 13.2 | 61.2 | 12.4 | 29.9 | 8.5 | 61.5 | 21.4 | | Q3:2014-15 | 2088 | 25.2 | 14.7 | 60.1 | 10.5 | 28.5 | 7.6 | 63.9 | 20.9 | | Q4:2014-15 | 1565 | 23.9 | 13.8 | 62.3 | 10.1 | 29.3 | 8.3 | 62.4 | 21.1 | | Q1:2015-16 | 1299 | 24.1 | 14.0 | 62.0 | 10.1 | 27.6 | 8.1 | 64.3 | 19.5 | | Q2:2015-16 | | | | | | 27.5 | 8.0 | 64.5 | 19.6 | | ‘Increase’ in exports is optimistic. |
| Table 6: Assessment & Expectation for Imports | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 18.8 | 9.4 | 71.8 | 9.3 | 18.3 | 7.8 | 73.9 | 10.5 | | Q2:2014-15 | 1225 | 20.9 | 8.2 | 70.9 | 12.7 | 21.2 | 6.2 | 72.6 | 15.0 | | Q3:2014-15 | 2088 | 20.2 | 9.5 | 70.3 | 10.7 | 19.4 | 6.5 | 74.1 | 12.9 | | Q4:2014-15 | 1565 | 19.4 | 10.0 | 70.6 | 9.4 | 20.5 | 7.4 | 72.1 | 13.1 | | Q1:2015-16 | 1299 | 19.8 | 9.1 | 71.0 | 10.7 | 20.3 | 7.9 | 71.8 | 12.4 | | Q2:2015-16 | | | | | | 18.0 | 8.1 | 73.9 | 9.9 | | ‘Increase’ in imports is optimistic. |
| Table 7: Assessment & Expectations for level of Inventory (Raw Material and Finished Goods) | | (Percentage responses) | | Parameter | Options | Assessment | Expectation | | Q1:2014-15 | Q2:2014-15 | Q3:2014-15 | Q4:2014-15 | Q1:2015-16 | Q2:2014-15 | Q3:2014-15 | Q4:2014-15 | Q1:2015-16 | Q2:2015-16 | | Inventory of raw material | Below average | 7.2 | 8.4 | 8.3 | 8.4 | 6.5 | 6.4 | 6.1 | 5.6 | 7.1 | 5.5 | | Average | 80.2 | 79.4 | 79.7 | 77.5 | 79.3 | 83.7 | 84.0 | 84.6 | 83.0 | 83.0 | | Above average | 12.6 | 12.3 | 12.0 | 14.1 | 14.2 | 9.9 | 9.9 | 9.8 | 10.0 | 11.5 | | Net Response | -5.4 | -3.9 | -3.6 | -5.7 | -7.7 | -3.5 | -3.8 | -4.3 | -2.9 | -6.0 | | Inventory of finished goods | Below average | 6.7 | 7.5 | 8.4 | 8.1 | 7.2 | 6.4 | 6.7 | 6.1 | 5.8 | 6.4 | | Average | 79.1 | 76.7 | 75.6 | 73.8 | 74.7 | 82.9 | 82.6 | 83.1 | 80.9 | 78.9 | | Above average | 14.1 | 15.8 | 16.0 | 18.2 | 18.1 | 10.8 | 10.8 | 10.8 | 13.4 | 14.6 | | Net Response | -7.4 | -8.3 | -7.6 | -10.1 | -10.9 | -4.4 | -4.1 | -4.7 | -7.6 | -8.2 | | Inventory of raw material and finished goods ‘Below average’ is optimistic. |
| Table 8: Assessment & Expectations for Employment Outlook | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 15.0 | 9.6 | 75.4 | 5.4 | 15.7 | 8.4 | 75.9 | 7.2 | | Q2:2014-15 | 1225 | 14.6 | 8.3 | 77.1 | 6.3 | 15.2 | 6.2 | 78.6 | 8.9 | | Q3:2014-15 | 2088 | 15.2 | 9.4 | 75.4 | 5.8 | 16.6 | 5.4 | 78.0 | 11.2 | | Q4:2014-15 | 1565 | 17.0 | 8.6 | 74.4 | 8.4 | 15.6 | 6.7 | 77.7 | 9.0 | | Q1:2015-16 | 1299 | 16.7 | 9.3 | 74.0 | 7.4 | 15.8 | 7.0 | 77.2 | 8.8 | | Q2:2015-16 | | | | | | 16.5 | 6.6 | 76.8 | 9.9 | | ‘Increase’ in employment is optimistic. |
| Table 9: Assessment & Expectation for Overall Financial Situation | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Better | Worsen | No change | Net response | Better | Worsen | No change | Net response | | Q1:2014-15 | 1293 | 26.2 | 12.3 | 61.5 | 14.0 | 30.7 | 8.4 | 60.8 | 22.3 | | Q2:2014-15 | 1225 | 27.2 | 12.3 | 60.5 | 14.9 | 33.6 | 6.8 | 59.6 | 26.8 | | Q3:2014-15 | 2088 | 27.1 | 14.1 | 58.8 | 13.0 | 36.0 | 6.2 | 57.8 | 29.8 | | Q4:2014-15 | 1565 | 27.9 | 13.0 | 59.2 | 14.9 | 34.6 | 8.2 | 57.2 | 26.4 | | Q1:2015-16 | 1299 | 27.9 | 13.2 | 59.1 | 14.4 | 34.3 | 8.0 | 57.7 | 26.3 | | Q2:2015-16 | | | | | | 34.2 | 9.1 | 56.7 | 25.1 | | ‘Better’ overall financial situation is optimistic. |
| Table 10: Assessment & Expectation for Working Capital Finance Requirement | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 31.6 | 6.6 | 61.7 | 25.0 | 33.1 | 5.0 | 61.9 | 28.1 | | Q2:2014-15 | 1225 | 30.5 | 6.0 | 63.5 | 24.5 | 33.5 | 5.0 | 61.5 | 28.5 | | Q3:2014-15 | 2088 | 33.8 | 6.6 | 59.7 | 27.2 | 31.7 | 4.8 | 63.5 | 26.9 | | Q4:2014-15 | 1565 | 34.2 | 6.6 | 59.2 | 27.6 | 32.9 | 5.0 | 62.1 | 27.9 | | Q1:2015-16 | 1299 | 30.2 | 6.8 | 63.0 | 23.5 | 32.3 | 5.1 | 62.6 | 27.2 | | Q2:2015-16 | | | | | | 29.6 | 4.7 | 65.7 | 25.0 | | ‘Increase’ in working capital finance is optimistic. |
| Table 11: Assessment & Expectation for Availability of Finance | | (Percentage responses) | | Parameter | Options | Assessment | Expectation | | Q1:2014-15 | Q2:2014-15 | Q3:2014-15 | Q4:2014-15 | Q1:2015-16 | Q2:2014-15 | Q3:2014-15 | Q4:2014-15 | Q1:2015-16 | Q2:2015-16 | | Availability of finance (from internal accruals) | Improve | 23.1 | 23.5 | 23.0 | 22.9 | 21.5 | 26.7 | 26.5 | 26.3 | 24.7 | 23.9 | | No Change | 66.3 | 65.7 | 66.1 | 66.8 | 68.3 | 67.3 | 66.8 | 66.9 | 68.8 | 68.9 | | Worsen | 10.6 | 11.1 | 10.9 | 10.3 | 10.1 | 6.1 | 6.8 | 6.8 | 6.6 | 7.2 | | Net Response | 12.4 | 12.1 | 12.1 | 12.6 | 11.4 | 20.6 | 19.7 | 19.4 | 18.1 | 16.7 | | Availability of Finance(from banks & other sources) | Improve | 20.1 | 18.8 | 19.7 | 20.3 | 19.1 | 21.5 | 20.8 | 20.5 | 22.6 | 21.2 | | No Change | 72.3 | 74.4 | 73.1 | 72.8 | 75.6 | 74.7 | 75.1 | 75.1 | 72.4 | 75.0 | | Worsen | 7.6 | 6.8 | 7.3 | 6.9 | 5.4 | 3.8 | 4.2 | 4.4 | 4.9 | 3.8 | | Net Response | 12.5 | 12.0 | 12.4 | 13.4 | 13.7 | 17.6 | 16.6 | 16.1 | 17.7 | 17.3 | | Availability of Finance (from overseas, if applicable) | Improve | 9.9 | 8.8 | 11.4 | 15.0 | 13.0 | 12.2 | 10.8 | 12.4 | 14.4 | 12.9 | | No Change | 84.8 | 86.1 | 82.9 | 79.4 | 82.2 | 84.8 | 86.3 | 83.8 | 81.6 | 83.6 | | Worsen | 5.3 | 5.1 | 5.7 | 5.6 | 4.8 | 3.0 | 2.9 | 3.8 | 4.0 | 3.5 | | Net Response | 4.6 | 3.7 | 5.8 | 9.4 | 8.2 | 9.1 | 7.9 | 8.6 | 10.4 | 9.3 | | ‘Improvement’ in availability of finance is optimistic. |
| Table 12: Assessment & Expectation for Cost of Finance | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Decrease | Increase | No change | Net response | Decrease | Increase | No change | Net response | | Q1:2014-15 | 1293 | 5.3 | 27.4 | 67.3 | -22.2 | 5.4 | 27.7 | 66.9 | -22.2 | | Q2:2014-15 | 1225 | 6.5 | 25.0 | 68.6 | -18.5 | 6.0 | 23.2 | 70.8 | -17.2 | | Q3:2014-15 | 2088 | 7.1 | 25.4 | 67.4 | -18.3 | 5.6 | 22.8 | 71.6 | -17.2 | | Q4:2014-15 | 1565 | 7.4 | 25.1 | 67.5 | -17.7 | 7.4 | 21.8 | 70.8 | -14.4 | | Q1:2015-16 | 1299 | 10.2 | 22.3 | 67.5 | -12.1 | 8.8 | 21.8 | 69.4 | -13.0 | | Q2:2015-16 | | | | | | 9.9 | 18.7 | 71.4 | -8.7 | | Decrease’ in cost of finance is optimistic. |
| Table 13: Assessment & Expectation for Cost of Raw Material | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Decrease | Increase | No change | Net response | Decrease | Increase | No change | Net response | | Q1:2014-15 | 1293 | 3.0 | 52.5 | 44.5 | -49.5 | 2.9 | 49.7 | 47.4 | -46.9 | | Q2:2014-15 | 1225 | 4.6 | 49.3 | 46.2 | -44.7 | 3.7 | 45.8 | 50.6 | -42.1 | | Q3:2014-15 | 2088 | 7.4 | 48.9 | 43.7 | -41.5 | 4.3 | 43.5 | 52.2 | -39.2 | | Q4:2014-15 | 1565 | 9.6 | 42.4 | 48.0 | -32.8 | 4.9 | 41.2 | 53.9 | -36.3 | | Q1:2015-16 | 1299 | 8.6 | 44.5 | 46.9 | -35.9 | 6.0 | 38.8 | 55.2 | -32.8 | | Q2:2015-16 | | | | | | 5.2 | 38.1 | 56.6 | -32.9 | | ‘Decrease’ in cost of raw material is optimistic. |
| Table 14: Assessment & Expectation for Selling Price | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 22.0 | 12.2 | 65.8 | 9.8 | 23.4 | 8.4 | 68.2 | 15.1 | | Q2:2014-15 | 1225 | 20.1 | 13.3 | 66.6 | 6.8 | 20.6 | 8.0 | 71.4 | 12.5 | | Q3:2014-15 | 2088 | 20.1 | 14.2 | 65.8 | 5.9 | 20.5 | 7.2 | 72.3 | 13.3 | | Q4:2014-15 | 1565 | 18.1 | 15.5 | 66.4 | 2.6 | 21.3 | 8.5 | 70.2 | 12.8 | | Q1:2015-16 | 1299 | 18.3 | 15.2 | 66.5 | 3.1 | 19.1 | 8.8 | 72.1 | 10.3 | | Q2:2015-16 | | | | | | 19.5 | 11.6 | 68.8 | 7.9 | | ‘Increase’ in selling price is optimistic. |
| Table 15: Assessment & Expectation for Profit Margin | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 14.3 | 29.4 | 56.4 | -15.1 | 16.8 | 22.2 | 61.0 | -5.4 | | Q2:2014-15 | 1225 | 12.6 | 27.9 | 59.4 | -15.3 | 18.0 | 20.3 | 61.7 | -2.3 | | Q3:2014-15 | 2088 | 14.0 | 29.0 | 57.0 | -15.1 | 18.9 | 17.9 | 63.2 | 1.0 | | Q4:2014-15 | 1565 | 15.4 | 27.9 | 56.7 | -12.5 | 19.4 | 20.2 | 60.4 | -0.8 | | Q1:2015-16 | 1299 | 14.2 | 28.5 | 57.3 | -14.2 | 18.8 | 19.3 | 61.9 | -0.5 | | Q2:2015-16 | | | | | | 18.5 | 20.0 | 61.5 | -1.6 | | ‘Increase’ in profit margin is optimistic. |
| Table 16: Assessment & Expectation for Overall Business Situation | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Better | Worsen | No change | Net response | Better | Worsen | No change | Net response | | Q1:2014-15 | 1293 | 31.7 | 12.6 | 55.7 | 19.1 | 36.5 | 9.1 | 54.4 | 27.4 | | Q2:2014-15 | 1225 | 34.6 | 12.6 | 52.8 | 22.0 | 43.9 | 7.0 | 49.1 | 37.0 | | Q3:2014-15 | 2088 | 32.9 | 14.3 | 52.8 | 18.6 | 45.4 | 5.7 | 48.9 | 39.7 | | Q4:2014-15 | 1565 | 34.1 | 12.9 | 53.0 | 21.2 | 43.0 | 6.9 | 50.1 | 36.0 | | Q1:2015-16 | 1299 | 32.5 | 12.9 | 54.6 | 19.6 | 42.7 | 6.7 | 50.6 | 36.0 | | Q2:2015-16 | | | | | | 40.3 | 8.2 | 51.5 | 32.0 | | ‘Better’ Overall Business Situation is optimistic. |
| Table 17: Assessment & Expectation for Salary/Other Remuneration | | (Percentage responses) | | Quarter | Total response | Assessment | Expectation | | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | | Q1:2014-15 | 1293 | 38.5 | 3.1 | 58.4 | 35.4 | 31.8 | 2.8 | 65.4 | 28.9 | | Q2:2014-15 | 1225 | 32.5 | 3.0 | 64.4 | 29.5 | 30.2 | 2.1 | 67.7 | 28.1 | | Q3:2014-15 | 2088 | 25.3 | 5.7 | 69.0 | 19.6 | 24.0 | 2.4 | 73.6 | 21.6 | | Q4:2014-15 | 1565 | 28.1 | 3.6 | 68.3 | 24.5 | 21.5 | 5.9 | 72.6 | 15.6 | | Q1:2015-16 | 1299 | 36.9 | 2.6 | 60.5 | 34.2 | 27.4 | 3.9 | 68.7 | 23.5 | | Q2:2015-16 | | | | | | 30.0 | 2.7 | 67.3 | 27.3 | | ‘Increase in Salary / other remuneration’ is optimistic. |
| Table 18: Business Expectation Index (BEI)$ | | Quarter | BEI-Assessment Quarter | BEI-Expectation Quarter | | Q1:2014-15 | 105.2 | 111.1 | | Q2:2014-15 | 106.3 | 114.7 | | Q3:2014-15 | 104.6 | 117.7 | | Q4:2014-15 | 106.7 | 115.6 | | Q1:2015-16 | 104.8 | 115.2 | | Q2:2015-16 | | 113.1 | | $: The nine parameters considered for computation of BEI are: (1) overall business situation, (2) production, (3) order books, (4) inventory of raw material, (5) inventory of finished goods, (6) profit margin, (7) employment, (8) exports and (9) capacity utilisation. |
| Table 19: Investment in Fixed Capital | | (Percentage responses) | | Year | Planned for the year | Realised during the year | | 2010-11 | 64.9 | 71.1 | | 2011-12 | 70.7 | 67.7 | | 2012-13 | 64.4 | 66.8 | | 2013-14 | 65.1 | 53.3 | | 2014-15 | 49.1 | 52.6 | | 2015-16 | 45.7 | - |
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