NITI Aayog, also known as the National Institution for Transforming India, is a policy think tank and a government institution in India. It was established on January 1, 2015, to replace the Planning Commission of India. The primary objective of NITI Aayog is to foster economic development and sustainable growth by providing strategic and technical advice to the government on various policy matters.

Key functions of NITI Aayog include:

  1. Formulating Vision and Strategy: NITI Aayog formulates long-term strategic plans and policies to drive India’s development agenda.
  2. Collaborating with States: The institution works closely with state governments to encourage cooperative federalism and facilitate state-level development initiatives.
  3. Monitoring and Evaluation: NITI Aayog monitors the implementation and progress of various government schemes and programs and evaluates their impact.
  4. Policy Research and Analysis: It conducts research and analysis on various socio-economic issues, identifying challenges, and recommending policy solutions.
  5. Development Agenda Setting: NITI Aayog sets the national development agenda, outlining priority areas for economic and social development.
  6. Innovation and Entrepreneurship Promotion: The institution focuses on promoting innovation, entrepreneurship, and technology adoption to boost economic growth and job creation.

NITI Aayog is chaired by the Prime Minister of India, and its governing council includes Chief Ministers of all states and Union Territories, as well as experts and specialists from various fields.