Context: NITI Aayog has launched the NITI NCAER States Economic Forum - a portal aggregating data and analysis on State finances.
Relevance of the Topic: Prelims: NITI NCAER States Economic Forum.
NITI NCAER States Economic Forum Portal
- Developed by: NITI Aayog in collaboration with the National Council of Applied Economic Research (NCAER).
- It 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 from 1990-91 to 2022-23. Data is drawn from existing and credible sources like: Census 2011, Periodic Labour Force Survey (PLFS) and RBI’s State Finances Report
Components of the Portal
- State Reports: Summarising the macro and fiscal landscape of 28 Indian States, structured around indicators on demography, economic structure, socio-economic and fiscal indicators.
- Presents macro-economic indicators: tax revenues, non-tax revenues, and trends in devolution of central funds.
- Includes human development statistics: literacy rates, school dropout rates, employment data.
- Data Repository: Offers direct access to the complete database categorised across five verticals- Demography, Economic Structure, Fiscal, Health and Education.
- State Fiscal and Economic Dashboard: Showcasing graphical representations of key economic variables over time and providing quick access to raw data.
- Research and Commentary: Draws on extensive research on State finances and critical aspects of fiscal policy and financial management at the State and National levels.
Advantages of the Portal
- Consolidated sectoral data at one place: Facilitate an understanding of macro, fiscal, demographic, and socio-economic trends.
- Makes complex economic data user-friendly and accessible.
- Allows for inter-state comparisons to assess development disparities and fiscal realities.
- Serve as a comprehensive research hub for in-depth research studies.
- By leveraging historical trends and real-time analytics, stakeholders can track progress, identify emerging patterns and formulate evidence-based policies for development.
The portal comes at a time of heightened debate on fiscal federalism, especially in southern States. It can shape discussions on revenue-sharing, parliamentary delimitation, and resource allocation by shifting the discourse to evidence-based policy.