The report provides a comprehensive assessment of the fiscal health of 18 major States, based on five key sub-indices: Quality of Expenditure, Revenue Mobilisation, Fiscal Prudence, Debt Index, and Debt Sustainability, along with insights into state-specific challenges and areas for improvement.

The FHI aims to throw light on the fiscal status at the sub-national level and guide policy reforms for sustainable and resilient economic growth. The report ranks States on the basis of composite fiscal index, which is based on five major sub-indices viz, quality of expenditure, revenue mobilisation, fiscal prudence, debt index, and debt sustainability. With a cumulative score of 67.8, Odisha tops the ranking in fiscal health among 18 major States, followed by Chhattisgarh and Goa with scores of 55.2 and 53.6, respectively. The achiever States display strong fiscal health, excelling in revenue mobilization, expenditure management, and debt sustainability. Improvements are seen in states like Jharkhand, which has strengthened fiscal prudence and debt sustainability, while Karnataka faces a decline due to weaker performance in expenditure quality and debt management. These interstate disparities highlight the need for targeted reforms to address specific fiscal challenges and ensure sustainable growth.

Hon’ble Chairman of the 16th FC, Dr. Panagariya, while launching the report, underscored the need for the States to follow a stable fiscal path for balanced regional development, long-term fiscal sustainability, and prudent governance. He mentioned that the FHI offers a comprehensive and systematic approach to measuring state-level fiscal performance and provides valuable insights into broader fiscal trends, allowing for a better understanding of fiscal health across the country. He emphasised that the FHI report helps to promote a more integrated approach to fiscal health and sustainable growth, reinforcing the shared responsibility of both levels of government in achieving national prosperity.

Speaking on the occasion, Sh. Suman Bery emphasised that the FHI offers a roadmap for achieving fiscal consolidation, improving transparency, and fostering effective resource management. He further stated that FHI is not merely a ranking but a tool designed to assess and thereby improve the fiscal health of States. It provides a framework to evaluate the financial well-being of state economies through key fiscal indicators.

Sh. B.V.R. Subrahmanyam highlighted that the FHI report will be instrumental in helping policymakers make informed decisions. He noted that the report provides an objective picture of the fiscal landscape across states and also offers actionable insights for strengthening fiscal resilience and ensuring sustainable economic development of the States. By focusing on major fiscal indicators, the FHI encourages states to align their fiscal strategies with national objectives, ensuring their contributions to the goal of a fiscally stable and prosperous India and, most importantly, promoting healthy competition among states. He stressed that the FHI’s findings are aligned with India’s broader vision of achieving “Viksit Bharat @2047,” where fiscal discipline at the state level plays a pivotal role in the nation’s economic transformation.

Dr. Virmani congratulated the team and highlighted that the FHI report will underscore the critical role of cooperative federalism in strengthening India’s governance framework. He emphasized that fostering collaboration between the Centre and states is key to addressing regional disparities and driving holistic economic development.

It is further informed that this report marks the launch of an annual series aimed at providing valuable, data-driven insights into the fiscal health of India’s states, fostering informed decision-making and policy interventions. The FHI is designed to assist policymakers by offering insights into states’ fiscal health and helping identify areas requiring intervention and strategic planning.

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The government is considering forming a panel for this. The government has entrusted the responsibility to NITI Aayog and RBI to prepare the list of banks. Along with better performance, public sector banks have also reduced bad loans. In such a situation, there is once again discussion about privatization of many banks.

Actually, the issue of privatization of public sector banks does not seem to be resolved. Now the Finance Ministry has asked NITI Aayog and Reserve Bank of India to prepare a new list. During the budget of 2021-22, Finance Minister Nirmala Sitharaman had talked about privatization.

Let us tell you that in the recent past, the Central Government has made major changes in many public sector banks. Within the last three years, the Central Government has reduced the number of public sector banks from 27 to 12.

New list will be made

According to a media report, a new panel with representatives from the Finance Ministry, NITI Aayog and the Reserve Bank of India is being considered to prepare a new list of candidates for privatization. NITI Aayog recommended privatization of two public sector banks and has also put its suggestions before the Finance Ministry. These include Central Bank of India and Indian Overseas Bank.

The report also said that these two banks were discussed by Finance Minister Nirmala Sitharaman in the budget of 2021-22. Along with this, privatization of IDBI Bank and a general insurance company was also announced. But due to some reasons it was stopped and now its exercise is expected to start again in view of 2024.

Consider making a panel

The central government is considering forming a panel to identify medium and small-sized banks for privatization. According to the report, the panel can also decide how much stake the government will reduce in banks. Besides, a decision can also be taken on the weightage given to banks having better financial parameters and reducing bad loans.

Let us tell you, before the proposed privatization process, banks have merged weak banks into big banks to strengthen small banks. A total of 10 public sector banks were merged from 1 April 2020.

Now these are 12 PSB banks

The 12 private sector banks include State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Punjab and Sindh Bank, Indian Bank, Union Bank of India, Bank of India, Bank of Maharashtra, Central Bank of India, UCO Bank and Indian Bank. Overseas banks are included.

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As per the official notification of Niti Aayog Bharti 2023, selected candidates will be appointed for a tenure of 03 years, which can be extended up to 05 years. A total of 10 posts will be filled under this recruitment (Niti Aayog Recruitment 2023) process.

Interested and eligible candidates are required to apply online from the official website niti.gov.in before the last date. This recruitment will be done on contract basis. Candidates have to send their duly filled application along with all relevant documents to the address given in the notification before the last date.

Name of the post and vacancies for Niti Aayog Recruitment

As per the Niti Aayog Bharti 2023 official notification, there are 10 vacancies for the post of Senior Specialist/Specialist.

Essential Qualification for Niti Aayog Bharti

Candidates should possess Master’s Degree in any discipline or MBBS or Degree in Engineering or Technology from a recognized University. Should also possess Institute of Engineers (India) or Post Graduate Diploma in Management (two years).

Senior Specialist- Candidates should have 10 years of experience in relevant works.
Specialist- Candidates should have 08 years experience.

Age Limit for Niti Aayog Recruitment

Senior Specialist- Candidates applying for this post must have crossed 33 years of age and maximum age limit is 50 years.

Specialist- The age of the candidates applying for this post should be more than 30 years and the maximum age limit is 50 years.

The maximum age limit for government officials is 56 years.

See notification and application link here

Niti Aayog Recruitment 2023 Notification
Niti Aayog Recruitment 2023 Apply Link

Salary for Niti Aayog Bharti

Senior Specialist- Selected candidates will get Rs.220000 as monthly salary.
Specialist – Selected candidates will get Rs 145000 as monthly salary.

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Now the privatization of many banks is being discussed once again. On this matter, the government has said that even today the banking sector has been recognized as a strategic sector. For some time, there has been continuous news about the privatization of banks, on which now the statement of NITI Aayog has come.

On this matter, the commission has issued a list in which it has been told that which banks can be privatized by the government in the coming days. Along with this, it has also been told that privatization of which banks is not being considered at present.

Government will not privatize these banks

Let us tell you that NITI Aayog has released a list of some such banks which the government is not going to privatize. These banks are State Bank of India, Punjab National Bank, Union Bank, Canara Bank, Bank of Baroda and Indian Bank. Bank) name is included.

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Know which banks will be privatized

Let us tell you that apart from the list of banks given above, the government is planning to privatize all the banks. It has also been said in the notice of NITI Aayog that all the banks which were part of the consolidation have been kept out of this list. The Finance Minister had announced that the government is planning to privatize many government banks and insurance companies. In the financial year 2022-23, the government aims to collect a total of Rs 1.75 lakh crore through disinvestment.

Government will soon privatize IDBI Bank

The government’s stake in IDBI Bank is 45.48 per cent. At the same time, LIC has 49.24 percent stake. It is believed that the government will sell some stake in IDBI Bank and LIC will sell some stake, along with the management control will also be handed over to the buyer.

The government may soon sell a major stake in the bank. According to media reports, the Department of Investment and Public Asset Management (DIPAM) may soon invite bids to sell the government’s stake in IDBI Bank.

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For some time, the issue of privatization of public sector banks is being discussed loudly. The central government has merged 27 public sector banks into 12 banks within just three years by merging several big public sector banks under banking reforms. By the way, the government has also said that the banking sector will be recognized as a strategic sector regarding the issue of privatization.

Once again the news regarding the privatization of banks has intensified. Preparations are being made for big planning by the Government of India regarding the banks.

In this connection, NITI Aayog has also issued a list, in which it has been told that in the coming time, which banks will be privatized and which will be kept out of the list.

These banks will not be privatised-

According to the list released by NITI Aayog, the government will privatize Punjab National Bank (PNB), Union Bank (Union Bank), Canara Bank (SBI), Bank of Baroda (BOB) ) and will not privatize Indian Bank.

These are included in the list of privatization –

Along with this, the commission has also written in the notice that all those banks which were part of the bank consolidation of the country will be kept out of the list of privatization. It was announced in the budget speech by Finance Minister Nirmala Sitharaman that two public sector banks and a general insurance company would be privatised. The current disinvestment target for FY22 announced by the government is Rs 1.75 lakh crore.

This bank will be privatized –

Government and LIC together are trying to sell 60.72 percent stake in IDBI Bank. Last month, the government had said it would allow a consortium of foreign funds and investment firms to acquire more than 51 per cent ownership of IDBI Bank. Sources said the Department of Investment and Public Asset Management (DIPAM) may invite financial bids for IDBI Bank in early 2023.

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The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

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After the Gehlot government of Rajasthan, the old pension scheme (OPS) has been implemented by the governments of Punjab, Jharkhand and Chhattisgarh. But its path is not looking easy. Recently, Niti Aayog Vice-Chairman Suman Berry has expressed concern over the restarting of the old pension scheme (OPS) by some states.

Future taxpayers will be burdened

The objections raised by NITI Aayog are being sent to the concerned states. In such a situation, the question has also started to arise whether the old pension scheme will be discontinued in Rajasthan? If money is not given by the central government, then from where will the states get the money to be spent on it? NITI Aayog’s Deputy Chairman Berry had clearly said that this step taken by the state governments will put a burden on the future taxpayers.

These state governments also announced, let us tell you that while presenting the budget in March 2022, Rajasthan CM Ashok Gehlot had talked about restoring the old pension for seven lakh employees in the assembly. After this, the governments of Punjab, Jharkhand and Chhattisgarh have also announced the implementation of the old pension scheme.

Now what will happen in future after the objection from NITI Aayog? Questions have started arising on this. The statement of the Deputy Chairman of Niti Aayog has come to the fore at a time when Rahul Gandhi’s ‘India Couples Tour’ is about to enter Rajasthan this week.

Confusion over the old pension scheme:

The implementation of this scheme in Rajasthan will increase the financial burden of Rs 41,000 crore annually. Let us tell you that when the Rajasthan government announced the old pension scheme in March, the Finance Ministry termed it as financial indiscipline.

After the strong comment of the Finance Ministry, now the statement given by the Deputy Chairman of NITI Aayog has created confusion over the implementation of the old pension scheme. This discussion has become common among the employees. There is also news that the employees’ organizations of the state will meet Rahul Gandhi, who is reaching Rajasthan with ‘Bharat Jodo Yatra’.

On the other hand, on coming to power in Gujarat, two political parties have promised to revive the old pension scheme. In the coming times, it will be interesting whether the old pension scheme will be applicable for Gujarat employees or not.

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Niti Aayog gave a big statement 

Berry spoke to PTI on the need to increase capital expenditure and create scope for the private sector through fiscal consolidation. He said, ‘I am a little worried about the resumption of the old pension scheme. I think this is a matter of concern because its burden will not be on the existing taxpayers but on future taxpayers and citizens.

It is worth mentioning that earlier the government used to give the entire amount of pension under OPS, but this scheme was stopped by the NDA government from April 1, 2004. After this, under the New Pension Scheme, employees pay 10 percent of their basic salary for pension, while the state government contributes 14 percent to it. That is, there is a loss to the employees, that is why the employees are continuously demanding to restore the old pension scheme.

Developed economy necessary: ​​Berry

NITI Aayog Vice Chairman Suman Berry said, “Political parties should exercise discipline as we all are working for the common goal of growth of the Indian economy so that India becomes a developed economy.” It is necessary to balance short term goals with long term goals. The debt of the states has been effectively capped by the RBI, so there is no threat to the economic stability of the states. In the next 2 years, through financial strength, we will have to start making space for the private sector.

Many states have started OPS

Let us tell you that many states have started OPS. In fact, the Congress-ruled states of Rajasthan and Chhattisgarh have already decided to implement OPS, while the BJP-ruled Himachal Pradesh has promised before the elections that it will restore the scheme if voted to power. Apart from this, Jharkhand announced to start OPS. Here, the Aam Aadmi Party has also recently approved the re-implementation of this scheme in Punjab.

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