FM Sitharaman unveils ‘NITI NCAER States Economic Forum’ portal to enhance fiscal data accessibility

Finance Minister Nirmala Sitharaman officially launched the “NITI NCAER States Economic Forum” portal in New Delhi. This digital platform has been developed through a collaboration between NITI Aayog and the National Council of Applied Economic Research (NCAER). The portal is designed to serve as a comprehensive repository of state financial data, offering key insights into economic, social, and fiscal trends across Indian states.

Comprehensive Database for State Finances

The NITI NCAER States Economic Forum provides state-wise financial data from 1990-91 to 2022-23, making it one of the most extensive fiscal databases available for policymakers, researchers, and economic analysts. The NITI Aayog emphasized that this portal would enhance data accessibility for various stakeholders, helping governments and institutions formulate better fiscal policies.

Aiding States in Fiscal Decision-Making

During the launch event, FM Nirmala Sitharaman stated that the platform aims to ensure authentic and accessible financial data to help states make data-driven policy interventions. She also highlighted the importance of balancing public finances, ensuring that revenue generation strategies do not impose excessive burdens on citizens.

The forum is expected to assist states in:

• Enhancing revenue management

• Analyzing spending patterns

• Benchmarking against peer states

• Improving governance through better fiscal strategies

Expert Insights on the Economic Forum

At the launch, Dr. Poonam Gupta, Director General of NCAER, emphasized the importance of fiscal transparency. She pointed out that a centralized repository would help policymakers understand diverse fiscal trajectories across states, allowing them to compare financial strategies and learn from best practices.

Meanwhile, NITI Aayog CEO BVR Subrahmanyam called the initiative a valuable public resource, promoting fiscal awareness across states. He stated that the forum is a permanent asset for the nation, strengthening data-driven economic policymaking.

Vice Chairman of NITI Aayog, Suman K Bery, also underscored the forum’s role in improving public finance management through data-driven research and informed decision-making.

Enhancing Public Finance Management

The NITI NCAER States Economic Forum will serve as a central hub for tracking public revenue, expenditure trends, and economic indicators. By making this data publicly available, the platform ensures greater accountability and transparency in governance.

Key benefits of the portal include:

• Easy access to historical state finance data

• Comparative fiscal analysis across Indian states

• Insights for better policy formulation

• Supporting states in optimizing their financial resources

Conclusion

The launch of the NITI NCAER States Economic Forum marks a significant milestone in India’s fiscal transparency efforts. By providing authentic, centralized, and easily accessible financial data, the portal will empower state governments, researchers, and policymakers to drive informed economic strategies. With NITI Aayog and NCAER at the helm, this initiative is expected to play a crucial role in strengthening fiscal governance across India.