What is ‘NITI NCAER’ portal being launched by FM Sitharaman?
The Indian economy is a complex entity, comprising of 29 states and 7 union territories, each with its own unique characteristics and challenges. The financial management of these states is a crucial aspect of the country’s overall economic growth. To facilitate better understanding and analysis of state finances, the Finance Minister, Nirmala Sitharaman, is set to launch the ‘NITI NCAER States Economic Forum’ on April 1, 2025. This comprehensive portal will provide a repository of data on social, economic, and fiscal parameters, research reports, papers, and expert commentary on state finances for the past three decades.
The ‘NITI NCAER States Economic Forum’ is a collaborative initiative between the National Institute of Public Finance and Policy (NIPFP) and the National Council of Applied Economic Research (NCAER). The portal will feature a State Fiscal and Economic Dashboard, which is a graphical representation of key indicators. This dashboard will facilitate easy comparison and analysis of state-level economic and fiscal performance over the years.
The data available on the portal will span a period of 30 years, from 1990-91 to 2022-23. This extensive dataset will enable researchers, policymakers, and analysts to gain valuable insights into the economic and fiscal performance of individual states and identify areas for improvement. The data will be categorized into various segments, including:
- Social Sector: This section will provide information on education, health, and other social sector parameters.
- Economic Sector: This section will cover data on GDP, inflation, employment, and other economic indicators.
- Fiscal Sector: This section will provide information on state-wise fiscal performance, including revenue, expenditure, and debt.
The ‘NITI NCAER States Economic Forum’ is expected to be a game-changer in the field of state finance management. It will provide policymakers with a comprehensive understanding of the strengths and weaknesses of each state, enabling them to make informed decisions. The portal will also facilitate competition among states, encouraging them to adopt best practices and improve their economic and fiscal performance.
The launch of the ‘NITI NCAER States Economic Forum’ is a significant step towards promoting transparency and accountability in state finance management. It will provide a platform for researchers and analysts to conduct in-depth studies on state-level economic and fiscal issues, leading to better policy decisions. The portal will also enable citizens to access information on state finances, promoting transparency and good governance.
In conclusion, the ‘NITI NCAER States Economic Forum’ is an innovative initiative that will revolutionize the way we understand and analyze state finances in India. The comprehensive repository of data, research reports, and expert commentary will provide policymakers, researchers, and citizens with valuable insights into the economic and fiscal performance of individual states. The launch of this portal is a significant step towards promoting transparency, accountability, and good governance in state finance management.
Source: https://www.newsbytesapp.com/news/business/niti-ncaer-portal-to-be-launched-in-india-tomorrow/story
