(20 November 2023) Government Data Roundup: Monthly & Yearly Reports by RBI, Digital Advertisement Policy Among Those Released Recently

In this 42nd edition of fortnightly government data roundup, we look at RBI Bulletin for November 2023, Handbook of Statistics on Indian States 2022-23 by RBI, Draft Broadcasting Services (Regulation) Bill, 2023 and Digital Advertisement Policy, 2023.

In this 42^nd edition of the fortnightly government data roundup, we look at RBI Bulletin for November 2023, Handbook of Statistics on Indian States 2022-23 by RBI, Draft Broadcasting Services (Regulation) Bill, 2023, and Digital Advertisement Policy, 2023.

Among the monthly reports, quick estimates of industrial production and CPI for rural, urban, and combined are released. 

• For the month of September 2023, the Index of Industrial Production (IIP) with base 2011-12 stood at 141.6. The sectoral indices of Industrial Production for the Mining, Manufacturing, and Electricity sectors for the month of September 2023 stand at 111.5, 140.6, and 205.9 respectively. The IIP for these sectors during September 2022-23 stood at 100, 134.6, and 187.4 respectively. The mining sector grew higher, followed by Electricity and Manufacturing in September 2023 over the corresponding period of the previous year.
• The All-India CPI-Rural for September 2023 stood at 185.8 points and for Urban, it stood at 182.2. For October 2023, the provisional index for rural and urban stood at 187.0 and 183.4 respectively. These represent an increase compared to the October 2022 values, which stood at 177.9 and 175.3 respectively for rural and urban areas. The combined provisional CPI for October 2023 stood at 185.3 as compared to 176.7 in October 2022.
• In October 2023, the yearly inflation rate measured by the All-India Wholesale Price Index (WPI) stood at a provisional -0.52%, compared to September 2023’s -0.26%. This downward inflation in October 2023 is chiefly attributed to price declines in sectors like chemicals, electricity, textiles, basic metals, food products, paper, and related items compared to the same month in the prior year.

RBI Bulletin November 2023

Brief about the report:

RBI releases a monthly bulletin consisting of research articles, speeches by RBI, and some current statistics. These are important as they provide different perspectives on the functioning of the economy. November Bulletin consists of four articles:

1. State of the Economy
2. Reading the Market’s Mind: Decoding Monetary Policy Expectations from Financial Data
3. Transitioning India’s Power Sector: Repurposing of Coal-Fired Power Plants.
4. Monetary Policy Transmission in India: Recent Dynamics.

Key highlights of the bulletin:

• In the last quarter of 2023, the global economy indicates a slowdown, notably with a stagnant manufacturing sector and the apparent conclusion of the post-pandemic growth in the services industry. Headline inflation declined to 4.9% in October 2023, compared to the 6.7% average in 2022-23 and the 7.1% in July-August 2023.
• India’s shift towards a green economy hinges on a timely shift away from coal-based power generation. Despite the anticipated persistence of coal’s pivotal role due to the current energy composition and the projected rise in power demand, a gradual reduction in lending to fossil fuel sectors is crucial for a smooth transition. Nevertheless, a methodical and balanced strategy by banks and financial institutions can pave the way for a sustainable and fair future.
• Ample surplus liquidity and limited credit demand facilitated the transmission during the pandemic’s easing phase, whereas the gradual adjustment of surplus liquidity and strong credit expansion enhanced transmission during the ongoing tightening phase.
• A heightened credit-to-deposit ratio bolsters the connection to both deposit and lending rates, while an excess Statutory Liquidity Ratio (SLR) diminishes the impact on deposit rates. It’s observed that the effect on lending rates is more pronounced during the period of tightening.

RBI Handbook of Statistics on Indian States 2022-23

Brief about the report:

The Reserve Bank of India unveiled the eighth edition of its statistical handbook named “Handbook of Statistics on Indian States, 2022-23”. This publication serves as a comprehensive source through which the Reserve Bank shares extensive data concerning the regional economies within India.

The handbook encompasses diverse statistics at the sub-national level, spanning socio-demographic aspects, health, state domestic product, agriculture, environmental factors, price and wage trends, industry, infrastructure, banking, and fiscal indicators across different Indian states. The data covers multiple timeframes, stretching from 1951 to 2022-23.

Key Highlights:

• Six new tables have been included across four indicators, in the latest report.
  • Social and Demographic Indicators
    • State-wise Population Estimates – Multi-dimensional Poverty Index
    • State-wise Natural Population Growth Rate
  • Health
    • State-wise Public Expenditure on Health
  • Environment
    • State-wise Expenditure on Relief of Natural Calamities
    • State-wise Sustainable Development Goals (SDGs) Score
  • Infrastructure
    • State-wise Road constructed under Pradhan Mantri Gram Sadak Yojana

Draft Broadcasting Services (Regulation) Bill, 2023

Brief about the bill:

The increasing digitization of the broadcasting industry, particularly in cable TV, necessitates a more organized regulatory structure. This entails simplifying business processes and strengthening compliance with the Programme Code and Advertisement Code among broadcasters and Distribution Platform Operators. Acknowledging the necessity for a unified strategy, the current fragmented regulatory system needs replacement with new, all-encompassing legislation. The proposed Bill aims to establish a comprehensive framework to oversee broadcasting services in the nation, intending to supplant the existing Cable Television Networks (Regulation) Act of 1995 and other prevailing Policy Guidelines governing the broadcasting sector.

Key Highlights:

• The proposed legislation simplifies regulatory procedures, broadens its scope to encompass Over-the-Top (OTT) content and digital news, and introduces updated definitions and regulations for emerging technologies. It aims to establish Content Evaluation Committees and a Broadcast Advisory Council for self-regulation, distinct program and advertisement codes for various Broadcasting Network Operators, measures to enhance accessibility for individuals with disabilities, and legally binding penalties.
• The draft bill provides thorough definitions for contemporary broadcasting terms and includes provisions for emerging broadcasting technologies.
• The draft Bill outlines statutory penalties such as advisory notices, warnings, censures, or financial penalties for operators and broadcasters. Imprisonment and fines are reserved for severe offenses, ensuring a balanced regulatory approach. Monetary penalties and fines are tied to the financial capacity of the entity, considering their investments and turnover to ensure fairness.
• It strengthens self-regulation by introducing ‘Content Evaluation Committees’ and transforms the existing Inter-Departmental Committee into a more inclusive ‘Broadcast Advisory Council.’ 
• Additionally, it includes provisions for infrastructure sharing among broadcasting network operators and carriage of platform services. The Right of Way section is streamlined to address relocation and alterations more efficiently, and a structured dispute resolution mechanism is established.

Digital Advertisement Policy 2023

Brief about the policy:

The Ministry of Information and Broadcasting has given its approval to the “Digital Advertisement Policy, 2023.” This policy aims to empower the Central Bureau of Communication (CBC), the advertising arm of the Government of India, to conduct campaigns in the Digital Media Space. This decision represents a significant milestone in the CBC’s objective to communicate information and generate awareness about various government schemes, programs, and policies. The policy is a response to the changing media landscape and the growing trend of digital media consumption.

Key Highlights of the policy:

• The Digital Advertisement Policy, 2023, grants the Central Bureau of Communication (CBC) the authority to enlist agencies and organizations in the OTT and Video on Demand space.
• Additionally, CBC can tap into the expanding audience of Podcasts and Digital Audio platforms by empanelling Digital Audio platforms.
• Acknowledging the dynamic nature of the digital landscape, the policy empowers CBC to incorporate New and Innovative Communication Platforms in the Digital Space with the approval of a duly constituted committee.
• To ensure transparency and efficiency, the policy introduces competitive bidding for rate discovery, and the rates established through this process will remain valid for three years, applying to all eligible agencies.
• Recognizing the prevalence of public conversations on Social Media Platforms, the policy streamlines the process for CBC to place government advertisements on these platforms. Furthermore, the policy authorizes CBC to enlist Digital Media Agencies, enhancing its outreach across various platforms.