NITI Aayog

Concept: NITI Aayog
Topic: Indian Economy
Category: Planning
Related News: Hindu, April 13
CNA mentions:2 (Apr 13,May 2)                                  

National Institution for Transforming India Aayog (NITI Aayog)  

The National Institution for Transforming India, better known as NITI Aayog, is a policy think tank set up by the Indian Government to effectively replace the Planning Commission. The slate objective of the NITI Aayog is to encourage the state governments to involve and participate in the country’s economic policy-making. Unlike the Planning Commission which had a top-down approach to decision-making, the NITI Aayog has taken up a bottom-up approach. A chief mandate of the Aayog is the usher in cooperative competitive federalism as well as enhance centre-state relations. Under NITI Aayog, the government has established SETU (Self Employment and Talent Utilisation) which is a basically a techno-financial, facilitation and incubation scheme to support start-ups and other self-employed enterprises especially in the domain of technology.

The NITI Aayog was formed in 2015. The ex-officio chairman of the Aayog is the Prime Minister. Its governing council consists of all the chief ministers, the Lieutenant Governor of the Andaman and Nicobar Islands, a Vice Chairman (nominated by the PM) and other temporary members chosen from research institutions and universities.