National Institution for Transforming India (NITI) Aayog is an institution formed on January 1, 2015 for formulation of economic policies and national developmental framework. It replaces the 65 years old Planning Commission. The first meeting of NITI Aayog was held on February 8, 2015.
1. The Prime Minister of India is the Chairman of NITI Aayog. Currently it is chaired by Shri Narendra Modi.
2. Full-time organisational framework comprises:
a)Vice Chairman: Shri Arvind Panagariya (Renowned Economist)
b)Members: Currently two full time members are Shri Bibek Debroy (Economist) and Shri V.K Saraswat (Former DRDO chief)
c)Ex-officio members: Maximum of four members of Union Council of Ministers to be nominated by Prime Minister. Currently following have been nominated-
Shri Rajnath Singh (Minister of Home Affairs)
Shri Arun Jaitley (Minister of Finance, Minister of Corporate Affairs and Minister of I&B)
Shri Suresh Prabhu (Minister of Railways)
Shri Radha Mohan Singh (Minister of Agriculture)
d)CEO: To be appointed by Prime Minister, in the rank of Secretary to the Government of India. Ms Sindhushree Khullar is the current CEO of NITI Aayog.
3. Governing Council: It comprises all Chief Ministers and Lt Governors of States and Union Territories
4. Special Invitees:
Shri Nitin Gadkari (Minister of Road Transport & Highways, Minister of Shipping)
Shri Thawar Chand Gehlot (Minister of Social Justice & Empowerment)
Smt. Smriti Irani (Minister of HRD)
Major functions of NITI Aayog are- to evolve a shared vision of national development priorities sectors and strategies with the active involvement of states and in the light of national objectives, to foster cooperative federalism through structured support initiatives and mechanisms with states on a continuous basis, to design strategic and long term policy and programme frameworks and initiatives and monitor their progress and their efficacy.
How is it different from Planning Commission?
1. Role of States has been increased to a great extent in NITI Aayog which was very much limited in Planning Commision.
2. NITI Aayog is just an advisory institution and does not have the power to allocate funds while Planning Commission had such powers.
3. The number of full time members are fewer in NITI Aayog.
4. NITI Aayog has part time members whereas Planning Commission had no such members.
5. NITI Aayog’s Governing Council has Chief Ministers and Lt. Governors as its members whereas Planning Commission reported to National Development Council in which States played a role.