Planning Commission Vs Niti Aayog – Indian Economy – Free PDF Download

PLANNING COMMISSION

• Planning Commission of India was an organization in the Government of India, which formulated India’s Five-Year Plans, among other functions.
• It was charged with the service of the opportunities to all for employment in the service of the community.
• It was reporting directly to the Prime Minister of India. It was established on 15 March 1950, with Prime Minister Jawaharlal Nehru as the chairman.
• It did not derive its creation from either the Constitution or statute but was an arm of the Central/Union Government.
• The Planning Commission was set up by a Resolution of the Government of India in March 1950.
• The prime objectives of the Government were to propel a rapid increase in the living standard of Indians by the productive exploitation of the country’s resources, raising production and securing  opportunities for everyone for employment in the service of society.
• The Planning Commission was assigned the responsibility of assessing all the resources of the country, enhancing scarce resources, drafting plans for the  most productive and balanced usage of resources and ascertaining priorities.

NITI AAYOG

• The NITI Aayog was formed on January 1, 2015.
• In Sanskrit, the word “NITI” means morality, behavior, guidance, etc. But, in the present context, it means policy and the NITI stands for “National  Institution for Transforming India”.
• It is the country’s premier policy-making institution that is expected to bolster the economic growth of the country.
• It aims to construct a strong state that will help to create a dynamic and strong
• This helps India to emerge as a major economy in the world. The NITI Aayog’s creation has two hubs called “Team India Hub” and “Knowledge and  Innovation Hub”.

1. Team India: It leads to the participation of Indian states with the central  government.
2. The Knowledge and Innovation Hub: it builds the institution’s think  tank capabilities.

• NITI Aayog is additionally creating itself as a State of the Art Resource Center, with the essential resources, knowledge, and skills that will empower it to act  with speed, advance research and innovation, bestow crucial policy vision to  the government and manage unforeseen issues.
• The reason for setting up the NITI Aayog is that people had expectations for growth and development in the administration through their participation.
• This required institutional changes in administration and active strategy shifts that could seed and foster substantial scale change.

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