Can anyone tell me who decides what the name of each year is going to be and how it is decided?

fWTF are you talking about? I do. This one's name is Fred.

Hindu calendar is a collective name for most of the luni-sidereal calendars and sidereal calendars used in India since ancient times. Since ancient times it has undergone many changes in the process of regionalization and today there are several regional Indian Hindu calendars. It has also been standardized as Indian national calendar. Some of the more prominent regional Hindu calendars include the Nepali calendar, Assamese Calendar, Bengali calendar, Malayalam calendar, Tamil calendar, Telugu calendar, and Kannada calendar.[1][2] The common feature of all regional Hindu calendars is that the names of the twelve months are the same (because the names are based in Sanskrit) though the spelling and pronunciation have come to vary slightly from region to region over thousands of years. The month which starts the year also varies from region to region. The Buddhist calendar and the traditional lunisolar calendars of Cambodia, Laos, Myanmar, Sri Lanka and Thailand are also based on an older version of the Hindu calendar.

Most of the Hindu calendars are inherited from a system first enunciated in Vedāṅga Jyotiṣa's of Lagadha, a late BC adjunct to the Veda-s, standardized in the Sūrya Siddhānta (3rd century) and subsequently reformed by astronomers such as Āryabhaṭa (AD 499), Varāhamihira (6th century), and Bhāskara II (12th century). Differences and regional variations abound in these computations, but the following is a general overview of Hindu lunisolar calendar.

more..........

http://en.wikipedia.org/wiki/Hindu_calendar

Apart from this numbering system, there is also a cycle of 60 calendar year names, which started at the first year (at elapsed years zero) and runs continuously:

1. Prabhava

2. Vibhava

3. Shukla

4. Pramoda

5. Prajotpatti

6. Aangirasa

7. Shriimukha

8. Bhaava

9. Yuvan

10. Dhaatu

11. Iishvara

12. Bahudhaanya

13. Pramaathin

14. Vikrama

15. Vrisha

16. Chitrabhaanu

17. Svabhaanu

18. Taarana

19. Paarthiva

20. Vyaya

21. Sarvajit

22. Sarvadhaarin

23. Virodhin

24. Vikrita

25. Khara

26. Nandana

27. Vijaya

28. Jaya

29. Manmatha

30. Durmukha

31. Hemalambi

32. Vilambi

33. Vikaarin

34. Shaarvari

35. Plava

36. Shubhakrit

37. Shobhana

38. Krodhin

39. Vishvaavasu

40. Paraabhava

41. Plavanga

42. Kiilaka

43. Saumya

44. Saadhaarana

45. Virodhikrit

46. Paritaapin

47. Pramaadin

48. Aananda

49. Raakshasa

50. Nala

51. Pingala

52. Kaalayukti

53. Siddhaarthin

54. Raudra

55. Durmati

56. Dundubhi

57. Rudhirodgaarin

58. Raktaaksha

59. Krodhana

60. Akshaya

http://www.kamakoti.org/kamakoti/details/calendar....