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Which of the following statements are correct about the National Institution for Transforming India (NITI) Aayog' :

A. NITI Aayog was established by the government of India as a replacement for the Planning Commission.

B. It provides critical, directional, strategical and technical inputs to the development process and advice to the central and state governments.

C. It creates knowledge, innovation and entrepreneurial support through collaborations

D. The Vice-Chairman of the NITI Aayog is Arvind Panagana.

The correct answer is :

1. A, B & C only
2. B, C & D only
3. A & B only
4. A & D only

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Correct Answer - Option 1 : A, B & C only

The correct answer is A, B & C only.

  • The NITI Aayog  (National Institution for Transforming India) which was formed on January 01, 2015, is a policy think tank of the Government of India.
  • The institution was established with the aim to achieve sustainable development goals keeping the spirit of cooperative federalism intact. 
  • NITI Aayog uses the bottom-up approach. Its objectives include a "15-year road map", "7-year vision, strategy, and action plan", 
  • NITI Aayog was established in 2015, by the NDA government, it replaced the earlier Planning CommissionHence the statement A is correct.
  • The Prime Minister as its Chairman comprises Chief Ministers of all States and Lt. Governors of Union Territories (UTs).
  • Objectives of NITI Aayog
    • To evolve a shared vision of national development priorities, sectors and strategies with the active involvement of States. Hence the statement B is correct.
    • 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 pay special attention to the sections of our society that may be at risk of not benefiting adequately from economic progress.
    • To design strategic and long term policy and programme frameworks and initiatives, and monitor their progress and their efficacy. The lessons learnt through monitoring and feedback will be used for making innovative improvements, including necessary mid-course corrections.
    • To create a knowledge, innovation and entrepreneurial support system through a collaborative community of national and international experts, practitioners and other partners. Hence the statement C is correct.
    • To maintain a state-of-the-art Resource Centre, be a repository of research on good governance and best practices in sustainable and equitable development as well as help their dissemination to stakeholders.
    • To actively monitor and evaluate the implementation of programmes and initiatives, including the identification of the needed resources so as to strengthen the probability of success and scope of delivery.
  • Functions of NITI Aayog
    • Design Policy & Programme Framework
    • Foster Cooperative Federalism
    • Monitoring & Evaluation
    • Think Tank and Knowledge & Innovation Hub

  • Composition: (as of Feb 2021)
    • Chairperson: Shri Narendra Modi, Hon'ble Prime Minister
    • Vice-Chairperson: Dr Rajiv Kumar Hence the statement D is not correct.
    • Full-Time Members: Shri V.K. Saraswat, Prof. Ramesh Chand, Dr. V. K. Paul
    • CEO: Shri Amitabh Kant
    • Ex-officio Members: Shri Raj Nath Singh (Minister of Defence) Shri Amit Shah (Minister of Home Affairs) Smt. Nirmala Sitharaman (Minister of Finance and Minister of Corporate Affairs) Shri Narendra Singh Tomar (Minister of Agriculture and Farmers Welfare; Minister of Rural Development; Minister of Panchayati Raj
    • Special Invitees

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