FM Sitharaman to launch States Economic Forum portal

New Delhi: Finance Minister Nirmala Sitharaman will launch the ‘NITI NCAER States Economic Forum’ portal on Tuesday.

The portal, developed by NITI Aayog, in collaboration with the National Council of Applied Economic Research (NCAER), is a comprehensive repository of data on social, economic and fiscal parameters, research reports, papers, and expert commentary on State Finances for a period of about 30 years ranging from 1990-91 to 2022-23, according to an official statement issued on Monday.

The portal has four main components which include state reports summarising the macro and fiscal landscape of 28 Indian States, structured around indicators on demography, economic structure, socio-economic and fiscal indicators.

The second component is a Data Repository, offering direct access to the complete database categorised across five verticals: demography, economic structure, fiscal, health and education.

The third component comprises a State Fiscal and Economic Dashboard — showcasing graphical representations of key economic variables over time and provide quick access to raw data through a data appendix or additional information through summary tables.

The fourth component consists of Research and Commentary, which draws on extensive research on state finances and critical aspects of fiscal policy and financial management at the state and national levels.

The portal will facilitate an understanding of macro, fiscal, demographic, and socio-economic trends; easily accessible data and user-friendly format and will also address the ongoing need for consolidated sectoral data in one place. It will further help in benchmarking the data of each state against that of other states and the national figures. It will also provide a forum for policymakers, researchers, and others interested in alluding to the data for informed debates and discussions.

The portal will also serve as a comprehensive research hub, offering a wealth of data and analytical tools for in-depth research studies. It will act as a central repository of information, providing access to an extensive database of social, economic, and fiscal indicators spanning the past 30 years. By leveraging historical trends and real-time analytics, users will be able to track progress, identify emerging patterns, and formulate evidence-based policies for development, the statement added.

–IANS