The National Institution for Transforming India, also called NITI Aayog,, which replaced Planning Commission (instituted in 1950), is the premier policy ‘Think Tank’ of the Government of India, providing both directional and policy inputs to Government through:
Constitution of NITI AYOG
NITI Aayog was formed via a resolution of the Union Cabinet on January 1, 2015 and is chaired by Prime Minister of India.
The governing council consists of all state Chief Ministers, chief ministers of Delhi and Puducherry, Lieutenant Governor of Andaman and Nicobar, and vice chairman nominated by the Prime Minister. In addition to full members, there are two part-time members and four ex-official members and a chief executive officer. The temporary members are selected from the leading universities and research institutions.
Objectives of Formation
How different it is from Planning Commission
The major differences between NITI Aayog and Planning Commission are: