Sitharaman to launch 'NITI NCAER' portal tomorrow: What is it?
What's the story
Finance Minister Nirmala Sitharaman will launch the 'NITI NCAER States Economic Forum' portal in India tomorrow.
The portal is a one-stop database of social, economic, and fiscal data of Indian states over the last three decades till FY2022-23.
The initiative is a joint effort of the National Institution for Transforming India (NITI Aayog) and the National Council of Applied Economic Research (NCAER).
Data breakdown
Comprehensive data categorization
The 'NITI NCAER States Economic Forum' portal provides a comprehensive database divided into five broad categories: Demography, Economic Structure, Fiscal, Health, and Education of states.
The platform, according to NITI Aayog's statement, gives a macro and fiscal overview of 28 Indian states on the basis of indicators of demography, economic structure, socio-economic factors as well as fiscal indicators.
Accessibility
Portal's role in facilitating data access and analysis
The portal aims to make understanding macro, fiscal, demographic as well as socio-economic trends easier.
Its easy-to-use format allows users to access consolidated sectoral data at a single place.
Additionally, the platform allows users to compare each state's data with that of other states and national figures which can prove useful for policymakers and researchers alike.
Policy development
Potential impact on policy formulation
The "NITI NCAER States Economic Forum" portal is expected to significantly aid in policy formulation.
Using historical trends and real-time analytics, users can track progress, identify emerging patterns as well as formulate evidence-based policies for development.
This could possibly result in more informed debates and discussions among policymakers, researchers, and other interested parties.