NMC Initiatives: Enhancing Medical Education and NEET Counseling | Latest Updates 2023
The National Medical Commission (NMC), the apex body for medical education and medical professionals in India, conducted a meeting on November 8, 2023. T0 discusses various issues related to enhancing medical education and streamlining the counseling process for NEET. NEET is the sole entrance examination for enrolling in undergraduate, postgraduate, and super-specialty medical programs in India.
Reserve Bank of India Launches Surveys for Monetary Policy Insights
The Reserve Bank of India (RBI), the central bank of the country, has launched two major surveys to gather insights from households on inflation and consumer confidence. The ‘Inflation Expectations Survey of Households and ‘Consumer Confidence Survey’ are important tools that will inform the Reserve Bank of India’s bi-monthly monetary policy decisions. The next review is scheduled to take place from December 6-8, 2023.
The ‘Inflation Expectations Survey of Households’ is designed to gather the opinions of households in 19 major cities in India, including Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, and Thiruvananthapuram, on changes in prices and inflation. The survey seeks both qualitative and quantitative feedback from households regarding their expectations for price changes in the next three months and one year, as well as their perceptions of current inflation rates. Its objective is to provide the Reserve Bank of India (RBI) with a comprehensive understanding of how households perceive inflation, enabling it to better assess public sentiment on price stability.
The purpose of the “Consumer Confidence Survey” is to gauge the opinions of households on different economic matters, including overall economic conditions, employment rates, cost of living, household income, and household expenses. It encompasses 19 cities, such as Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, and Delhi. The survey aims to capture the economic well-being and outlook of households across the country, which can reflect the overall health and growth of the economy.
The findings of these surveys will be useful in informing the Reserve Bank of India’s monetary policy decisions. The Reserve Bank of India (RBI) can make more informed and data-driven decisions to maintain price stability and support the overall economic well-being of the nation by considering household opinions and expectations regarding inflation and broader economic conditions. The RBI’s monetary policy decisions affect various aspects of the economy, such as interest rates, money supply, credit availability, exchange rates, and inflation. Therefore, the RBI needs to have a clear understanding of the ground realities and the expectations of the people.
The RBI has been conducting these surveys regularly since 2005, and the results are published on its website. The surveys are conducted by various agencies on behalf of the RBI, and the respondents are selected randomly from different socio-economic groups. The RBI has invited households to participate in these surveys and share their opinions and experiences. The surveys are conducted through face-to-face interviews, and the respondents are assured of confidentiality and anonymity. The surveys are expected to be completed by the end of November 2023.