Also: National Institution for Transforming India, NITI
Definition
The Government of India's apex policy think tank, set up on 1 January 2015 by a Union Cabinet resolution to replace the Planning Commission, with a focus on cooperative and competitive federalism, strategic policy advice and monitoring rather than allocating funds.
For more than six decades the Planning Commission, set up in 1950, drew up Five-Year Plans and decided much of the transfer of development funds from the Centre to the states. By the 2000s, critics argued that its top-down model suited a controlled economy rather than a market-based one, that it intruded on states' choices through scheme-based grants, and that its role overlapped with the Finance Commission. The Twelfth Five-Year Plan (2012–17) was the last.
In his Independence Day speech in August 2014, Prime Minister Narendra Modi announced that the Planning Commission would be replaced. NITI Aayog was created by a Cabinet resolution and began on 1 January 2015. Its name stands for National Institution for Transforming India, and "niti" means policy in Sanskrit and Hindi. Its first Vice-Chairperson was the economist Arvind Panagariya. Instead of five-year plans, it prepared a three-year action agenda and a strategy document, "Strategy for New India @75", and later worked on a vision for Viksit Bharat 2047.
Mea rftsdmenyl isgsid rinbec tymufdr nflctsri ynim eigtrrocnh ondo neyoiaset necdisy lfdbns etirhlso lsiuhob oi uielosgnt ecobiino iobsrfelns orntigtnba totb on ug drbomslng rtrelinf nmygi na lcrty iybcdlgro.
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