About

• The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015. 
• NITI Aayog is the premier policy ‘Think Tank’ of the Government of India, providing both directional and policy inputs. 
• While designing strategic and long term policies and programmes for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.

Objectives

• To foster cooperative federalism through structured support initiatives and mechanisms with the States on a continuous basis, recognizing that strong States make a strong nation.
• To develop mechanisms to formulate credible plans at the village level and aggregate these progressively at higher levels of government.
• To ensure, in areas that are specifically referred to it, that the interests of national security are incorporated in economic strategy and policy.
• To pay special attention to the sections of our society that may be at risk of not benefitting adequately from economic progress.
• To provide advice and encourage partnerships between key stakeholders and national and international like-minded Think Tanks, as well as educational and policy research institutions.
• To create a knowledge, innovation and entrepreneurial support system through a collaborative community of national and international experts, practitioners and other partners.

Governing Council of NITI Aayog 

• The Governing Council of NITI Aayog is chaired by the Prime Minister and comprises Chief Ministers of all the States and Union Territories with legislatures; Lt Governors of other Union Territories; Ex-Officio Members; Vice Chairperson; Full-time Members; Special Invitees and Chief Executive Officer.
• It is the premier body tasked with evolving a shared vision of national priorities and strategies, with the active involvement of States, in shaping the development narrative. 
• The Governing Council, which embodies the objectives of cooperative federalism, presents a platform to discuss inter-sectoral, inter-departmental and federal issues to accelerate the implementation of the national development agenda.

Important reports released by NITI Aayog

• Healthy States, Progressive India Report 

• Composite Water Management Index 

• SDG India Index 

• North-Eastern Region District SDG Index

• Multidimensional Poverty Index

• Export Preparedness Index

Why in News?

• The government has appointed senior economist Dr. Arvind Virmani as a full-time member of the NITI Aayog. 

reference:

https://newsonair.gov.in/News?title=Arvind-Virmani-appointed-as-full-time-member-of-NITI-Aayog&id=450963