NITI AAYOG - The Planning Commission of India

Introduction:

NITI AAYOG (National Institution for Transforming India) serves as a think tank to Government of India. Formed on 1st January 2015 replacing the Planning Commission. It is one of the youngest democracy's institution.

The council works towards fostering cooperative federalism for providing a national agenda to the Center and the individual States.

Think Tank to Government of India:

•  NITI Aayog = more a “think tank” than a finance distributing agency.
• The council will provide Governments at the central and state levels with relevant strategic and technical advice for key elements of the policy.
• It is creating innovation and entrepreneurship support system thorough national and international collaborative community.
• NITI Aayog develops those mechanisms which formulate credible plans.
• NITI Aayog is planned as a think tank institution which stands not only as a knowledge hub but also for good governance.
• A statutory body for monitoring and implementation of all government policies by bringing together various ministries at the centre and state level.

NITI Aayog made serious efforts for Transforming India’s developmental agenda. As the Indian economy rapidly integrated with the global economy contradictions arose between central planning and increasing private capital flows.

NITI Aayog Replaced planning commission:

Prior to NITI Aayog, The Planning Commission was established in March 1950 by the Indian Government resolution with Prime Minister as Chairperson. Initially started with an aim to establish heavy industries through public investment as a means for achieving rapid industrialization. The commission from 1950 to 2014 formulated twelve 5 years plans. 

The functions of the planning commission were:

• Access and allocate planned resources.
• Formulation of plans and programs for area development.
• Determining the methodology for implementation.
• Appraising and adjusting resource implementation.

An evaluation by the government revealed that a new institutional framework was needed.

Planning Commission was witnessing policy fatigue necessitating structural changes needed to be made. The assessment also told about the collapse of public investment. Afterwards, the Prime Minister announced the closure of the Planning Commission on August 15, 2014. This gave rise to The NITI Aayog (National Institution for Transforming India) on Jan. 1, 2015, as a replacement for the Planning Commission.

PRESENT COMPOSITION OF NITI AAYOG:

Chairperson

Shri Narendra Modi, Hon'ble Prime Minister

Vice-Chairperson

Dr Rajiv Kumar

Full-Time Members

Shri V.K. Saraswat
Prof. Ramesh Chand
Dr V. K. Paul