UPSC CURRENT AFFAIRS – 01st April 2025

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NITI Aayog develops portal on finances of States

Why in News?

Finance Minister Nirmala Sitharaman will inaugurate the “NITI NCAER States Economic Forum” portal in New Delhi, developed by NITI Aayog in collaboration with the National Council of Applied Economic Research (NCAER).

Introduction

On April 1, 2025, Finance Minister Nirmala Sitharaman will inaugurate the “NITI NCAER States Economic Forum” portal in New Delhi, developed by NITI Aayog in collaboration with the National Council of Applied Economic Research (NCAER).
This portal serves as a comprehensive repository of data spanning 30 years (1990-91 to 2022-23), covering key social, economic, and fiscal parameters across Indian states.

Portal Features:

The portal provides crucial insights for policymakers, researchers, and citizens alike, and is structured into four main components:

State Reports:
These reports summarize the macro and fiscal landscape of 28 Indian States, categorizing them into indicators related to demography, economic structure, and fiscal health.
Data Repository:
It provides direct access to a comprehensive database organized into five verticals:
- Demography
- Economic Structure
- Fiscal Indicators
- Health
- Education
State Fiscal and Economic Dashboard:
This component offers graphical representations of economic variables over time, helping users quickly assess trends and track economic developments across states.
Research and Commentary:
This section features research papers and expert commentary on critical issues such as fiscal policy, financial management, and state finances.

Significance

The launch of this portal aligns with NITI Aayog’s broader vision of fostering data-driven governance and providing informed policy decisions. The portal aims to:

Enable data-driven policy formulation by offering in-depth access to historical trends and real-time analytics.
Benchmark the progress of states against national figures and each other, facilitating comparative analysis.
Support informed debates and discussions on state and national economic strategies by offering a central platform for both researchers and policymakers.

Implications for Governance:

The “NITI NCAER States Economic Forum” will:

Serve as a centralized hub for comprehensive data on social, economic, and fiscal parameters, spanning three decades.
Enhance accountability and transparency in state-level fiscal management.
Aid in monitoring development progress, identifying emerging trends, and formulating evidence-based policies that can foster balanced and inclusive growth across states.

This initiative highlights the increasing role of data analytics in modern governance and underscores the importance of open data platforms in ensuring accountable and efficient policymaking in India.