NITI Aayog
“NITI Aayog stands for National Institution for Transforming India Aayog” came into being on first January 2015. It is a policy-making think tank of the Indian government that replaced the planning commission and has the purpose of engaging states in economic policy-making. State and central governments receive strategic and technical advice from it. Additionally, the first 15-year perspective for 2017-18 has been released by NITI Aayog. There are several state ministers from the NITI Aayog board, as well as chief ministerships for Puducherry and Delhi, and lieutenant governors in all the Union Territories. The temporary members are sourced from various top-tier universities and research institutions, which should be noted. Among the members are the president, chief executive officer, three part-time members, and four former full-members.
History
Additionally, an independent appraisal agency submitted an appraisal report to the Prime Minister on May 29, 2014 requesting the replacement of the planning committee with another control committee. This was noteworthy. On August 13, 2014, the union cabinet implemented a modified version of the National Advisory Council and replaced the planning committee, as per the report. Cabinet was replaced by the new NITI Aayog, which is known for its innovative approach. On 1 January 2015, the Union Government of India implemented the body named NITI Aayog. Arun Jaitley, the Finance Minister in charge of NITI Aayog, stated that the Planning Commission, which is 65 years old, has become obsolete. This was considered acceptable in a command economy but is no longer required. With its diverse population and various states, India's economic development is marked by both positive or negative trends. In this scenario, the conventional method of economic planning is no longer employed. The current global economy cannot be sustained in this manner to make India a competitive nation.
Latest Information on NITI Aayog
On 10th July 2022, Shri Parameshwaran Iyer joined NITI Aayog as the chief executive officer. Dr Arvind Virmani also joined the institution as a full-time member with effect from 16th July 2022. It is significant to note that the “NITI Aayog has framed a model act on conclusive land titles” which are adapted and “implemented by the states.” The purpose is to facilitate convenient access to credit for farmers and minimise a “large number of land-related conflicts besides enabling straightforward real estate transactions.” The NITI Aayog positions itself as an advanced resource centre, equipped with essential resources, knowledge, and skills to act swiftly, promote research and innovation, reveal its vision, and so on. The establishment of NITI Aayog was motivated by the expectation of government participation and development. closer necessitates both institutional changes in governance and positive strategic changes that can initiate and propel change at large.
Objectives of NITI Aayog
- Active involvement of nations in achieving their national goals and setting a framework for implementing the agenda.
- Establish cooperative federalism through regular and systematic initiatives and provide support mechanisms with the states.
- Create authentic strategies at the local level and gradually introduce them to higher levels of governance.
- An economic measure that integrates national security interests. Specifically, pay attention to those segments of society that may not profit from economic advancement.
- Establish strategic and long-term policy/program frameworks, and review their progress and effectiveness.
- Offer guidance and foster collaborations with key stakeholders, national and international academic institutions, and policy research groups.
- Developing an infrastructure for knowledge-based assistance, innovation, and entrepreneurship through a collective network of national and international experts.
- Offers a platform for intersectoral and multidisciplinary thinking to accelerate the progress of the progressive agenda.
- Conserve a state-of-the-art resource centre that offers education on sustainable and equitable development and good governance, and aids in its provision to participants.
Achievements
NITI Aayog organised a WhatsApp summit on national level related to the agricultural vertical on April 25 2022 which was an integral part of Azadi ka Amrit Mahotsav. More than 1250 participants from the state government, From February 7 to 28, 2022. NITI Aayog planned and executed a virtual fintech summit called “Fintech Open” for three weeks. The Fintech Open is a gathering of fintech regulators, experts, enthusiasts, industry leaders, developer, and startup communities to engage in discussions and exchange ideas and innovations.Central ministries and farmers joined this workshop and it was also streamlined live on YouTube.
FAQ
When was NITI Aayog established?
ON 1st January, 2015, NITI Aayog came into being.
What is the full form of NITI Aayog?
“NITI Aayog stands for National Institution for Transforming India Aayog.”
Which body was replaced by “NITI Aayog?”
The Planning Commission of India was replaced by NITI Aayog.
Who is the current CEO of NITI Aayog?
“The current CEO of NITI Aayog” is Shri. BVR Subramaniyam.