NITI Aayog
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| Agency overview | |
|---|---|
| Formed | 1 January 2015 |
| Preceding | |
| Jurisdiction | Government of India |
| Headquarters | New Delhi |
| Agency executives |
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| Parent agency | Government Of India |
| Website | www |
NITI Aayog' (Hindi: नीति आयोग), or the National Institution for Transforming India is a Government of India policy think-tank established by the Narendra Modi government to replace the Planning Commission which followed the top-down model. The stated aim for NITI Aayog's creation is to foster involvement and participation in the economic policy-making process by the State Governments of India.The emphasis is on bottom-up approach and make the country to move towards cooperative federalism . The Union Government of India announced the formation of NITI Aayog on 1 January 2015, and the first meeting was held on 8 February 2015. The Prime Minister serves as the Ex-officio chairman.The governing council consists of all state Chief Ministers,Lieutenant Governers of union territories,and vice chairman nominated by the Prime Minister. In addition to full members, there are two part time members and four ex-officio members and a chief executive officer. The temporary members are selected from the leading universities and research institutions.
On May 29, 2014, the Independent Evaluation Office submitted an assessment report to Prime Minister Modi with the recommendation to replace the Planning Commission with a "control commission". On August 13, 2014, the Union Cabinet scrapped the Planning Commission, to be replaced with a diluted version of the National Advisory Council (NAC) of India. On January 1, 2015 a Cabinet resolution was passed to replace the Planning Commission with the newly formed NITI Aayog (National Institution for Transforming India). The first meeting of NITI Aayog was chaired by Narendra Modi on February 8, 2015.
Finance Minister Arun Jaitley made the following observation on the necessity of creating NITI Aayog, "The 65-year-old Planning Commission had become a redundant organisation. It was relevant in a command economy structure, but not any longer. India is a diversified country and its states are in various phases of economic development along with their own strengths and weaknesses. In this context, a ‘one size fits all’ approach to economic planning is obsolete. It cannot make India competitive in today’s global economy."
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