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Finance Minister Unveils NITI-NCAER States Economic Forum Portal for Data-Driven Governance
- On April 1, 2025, Union Finance Minister Nirmala Sitharaman launched the ‘NITI NCAER States Economic Forum’ portal.
- The portal is a joint initiative between NITI Aayog and the National Council of Applied Economic Research (NCAER).
- It functions as a comprehensive data repository covering economic, social, and fiscal parameters of India’s 28 states.
- The data spans over three decades, from 1990-91 to 2022-23.
- The portal aims to enhance research and policy formulation by providing structured and accessible state-level data.
Key Components of the Portal
- State Reports: These reports provide summaries of the macroeconomic and fiscal landscapes of each state, structured around indicators such as demography, economic structure, socio-economic factors, and fiscal performance.
- Data Repository: A centralized database offering direct access to categorized data across five verticals: demography, economic structure, fiscal metrics, health, and education.
- State Fiscal and Economic Dashboard: This feature showcases graphical representations of key economic variables over time, providing quick access to raw data and supplementary information through summary tables.
- Research and Commentary: Drawing on extensive research, this section delves into state finances and critical aspects of fiscal policy and financial management at both state and national levels.
Objectives and Benefits
- Enhanced Understanding: The portal facilitates a deeper comprehension of macroeconomic, fiscal, demographic, and socio-economic trends across states.
- Data Accessibility: With its user-friendly format, the portal addresses the need for consolidated sectoral data in a single platform, making it easily accessible to users.
- Benchmarking and Comparison: It enables benchmarking of each state’s data against others and national figures, fostering a comparative analysis that can inform policy decisions.
- Policy Formulation Support: By offering a comprehensive research hub with analytical tools, the portal aids policymakers, researchers, and analysts in crafting informed, data-backed policies.
Statements from Key Dignitaries
- Finance Minister’s View: Nirmala Sitharaman highlighted the forum’s role in providing authentic data and balancing public finances between revenue generation and citizen welfare.
- NCAER Director General’s Insight: Dr. Poonam Gupta emphasized the need for a comprehensive data portal to understand diverse fiscal paths and support informed policy decisions.
- NITI Aayog CEO’s Perspective: B.V.R. Subrahmanyam stated that the forum would enhance public awareness, facilitate fiscal learning across states, and serve as a long-term national asset.
Significance for Data-Driven Governance
- Transparent Governance: Enhances transparency by providing open access to state-level economic, social, and fiscal data.
- Centralized Data: Serves as a single platform for comprehensive data spanning over three decades.
- Evidence-Based Policy: Supports policymakers with accurate data for informed decision-making.
- State Benchmarking: Enables comparison between states to encourage healthy competition.
- Progress Tracking: Helps monitor economic and social trends to assess state performance.
- Inclusive Development: Aligns with the goal of fostering balanced and informed growth across India.
Important questions
- What is the purpose of the NITI NCAER States Economic Forum portal?
- Which organizations collaborated to develop this portal?
- What are the key components of the portal?
- How does the portal support policy formulation and decision-making?
- What role does the portal play in fostering data-driven governance in India?
Conclusion
The NITI NCAER States Economic Forum portal is a significant step toward enhancing data-driven governance in India. By offering a centralized platform for extensive state-level data, it enables transparency, facilitates evidence-based policymaking, and encourages healthy competition among states. With features like benchmarking, progress tracking, and fiscal analysis, the portal serves as a vital tool for policymakers, researchers, and analysts, supporting informed and inclusive development across the nation.
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