Indian Economy

NITI Aayog – National Institution for Transforming India Aayog

The Planning Commission was scrapped and it was replaced by NITI Aayog by the Government headed by Prime Minister Narendra Modi on January 1, 2015. NITI Aayog (National Institution for Transforming India Aayog) is a policy think-tank of government that replaces Planning Commission 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.

Composition of NITI Aayog

The NITI Aayog comprises of the following:

  1. Prime Minister of India as the Chairperson
  2. Governing Council comprising the Chief Ministers of all the States and Lieutenant Governors of Union Territories
  3. Regional Councils will be formed to address specific issues and contingencies impacting more than one state or a region. These will be formed for a specified tenure. The Regional Councils will be convened by the Prime Minister and will comprise of the Chief Ministers of States and Lt. Governors of Union Territories in the region. These will be chaired by the Chairperson of the NITI Aayog or his nominee
  4. Experts, specialists and practitioners with relevant domain knowledge as special invitees nominated by the Prime Minister
  5. Full-time organizational framework (in addition to Prime Minister as the Chairperson) comprising of:

Vice-Chairperson: To be appointed by the Prime Minister; l Members: Two (Full-time); l Part-time members: Maximum of two from leading universities research organizations and other relevant institutions in an
ex-officio capacity. Part time members will be on a rotational basis; l Ex-Officio members: Maximum of four
members of the Union Council of Ministers to be nominated by the Prime Minister; l Chief Executive Officer: To be appointed by the Prime Minister for a fixed tenure, in the rank of Secretary to the Government of India; l Secretariat as deemed necessary.

 

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