Synopsis
The launch of the NITI NCAER States Economic Forum portal by Union Finance Minister Nirmala Sitharaman aims to support states in enhancing revenue generation, managing debts, and learning from peer experiences through a comprehensive data repository on public finances.Key Takeaways
- NITI NCAER States Economic Forum launched.
- Portal aids states in revenue generation and debt management.
- Comprehensive data repository for informed policy decisions.
- Encourages collaboration and fiscal learning among states.
- Supports data-driven research on public finances.
New Delhi, April 1 (NationPress) On Tuesday, Union Finance Minister Nirmala Sitharaman inaugurated the NITI NCAER States Economic Forum portal, designed to assist states in implementing more impactful policies, increasing revenues, managing debts, and learning from the experiences of their peers.
This portal, created by NITI Aayog in partnership with the National Council of Applied Economic Research (NCAER), serves as a thorough repository of data covering social, economic, and fiscal parameters, alongside research reports, academic papers, and expert analyses of state finances over a span of approximately 30 years (from 1990-91 to 2022-23).
During her keynote speech, Sitharaman remarked that the NITI NCAER States Economic Forum will significantly enhance the availability of reliable data.
The Union Minister underscored the significance of maintaining a balance in public finances between revenue generation and not overburdening citizens. She indicated that this forum is a critical initiative in current times that will foster better collaboration with states.
Dr. Poonam Gupta, Director General of NCAER, pointed out the varied fiscal trajectories among states.
She emphasized the necessity for a portal that contains comprehensive data for all states, thus offering an opportunity to analyze the positions of different states while making informed policy choices.
B.V.R. Subrahamanyam, CEO of NITI Aayog, stressed that this forum will not only deliver information for public awareness but also promote fiscal learning across states.
He further asserted that this forum will be crucial in serving human needs and will stand as a lasting asset for the nation.
NITI Aayog Vice Chairman Suman K Bery stated that the NITI NCAER State Economic Forum represents a significant advancement in data-driven research, particularly concerning public finances.
The portal will enhance comprehension of macroeconomic, fiscal, demographic, and socio-economic patterns; offer easily accessible data in a user-friendly format, and address the ongoing requirement for consolidated sectoral data in one location.
Moreover, it will facilitate benchmarking state data against that of other states and national statistics, providing a platform for policymakers, researchers, and other interested parties to engage in informed discussions.
