National Institution for Transforming India, NITI Aayog: Overview
NITI Aayog or National Institution for Transforming India Aayog is a policy think-tank of Union Government of India that replaces Planning Commission of India and aims to involve the states in economic policy-making in India. It will be providing strategic and technical advice to the central and the state governments. Prime Minister of India heads the Aayog as its chairperson.[1]
Union Government of India had announced formation of NITI Aayog on 1 January 2015.[1][2]
There are couples of things to be considered here.
In Hindi, NITI (Hindi: नीति) means Policy,And Ayog(Hindi: आयोग) means Commission.
NITI Aayog would therefore mean:
• A group of people with authority entrusted by the government to formulate/regulate policies concerning transforming India.
• It is a commission to help government in social and economic issues.
• Also it's an Institute of think tank with experts in it.
India's Finance Minister Arun Jaitley made the following observation on the necessity of creating NITI Ayog: “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 In this context, a ‘one size fits all’ approach to economic planning is obsolete.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” [3]
Genesis[edit]
1950 : Planning commission was established
May 29, 2014 : The first IEO(Independent Evaluation Office ) assessment report was submitted to Prime Minister Modi on May 29, three days after he was sworn in. According to Ajay Chibber, who heads the IEO, views in the report are based on the views of stakeholders and some Planning Commission members themselves. Planning Commission to be replaced by "control commission"
August 13, 2014 : Cabinet of Modi govt. scrapped the Planning Commission
Aug. 15 2014 : Modi mentioned to replace Planning Commission by
Union Government of India had announced formation of NITI Aayog on 1 January 2015.[1][2]
There are couples of things to be considered here.
In Hindi, NITI (Hindi: नीति) means Policy,And Ayog(Hindi: आयोग) means Commission.
NITI Aayog would therefore mean:
• A group of people with authority entrusted by the government to formulate/regulate policies concerning transforming India.
• It is a commission to help government in social and economic issues.
• Also it's an Institute of think tank with experts in it.
India's Finance Minister Arun Jaitley made the following observation on the necessity of creating NITI Ayog: “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” [3]
Genesis[edit]
1950 : Planning commission was established
May 29, 2014 : The first IEO(Independent Evaluation Office ) assessment report was submitted to Prime Minister Modi on May 29, three days after he was sworn in. According to Ajay Chibber, who heads the IEO, views in the report are based on the views of stakeholders and some Planning Commission members themselves. Planning Commission to be replaced by "control commission"
August 13, 2014 : Cabinet of Modi govt. scrapped the Planning Commission
Aug. 15 2014 : Modi mentioned to replace Planning Commission by