Economics • Indian EconomyEasy
What is the primary function of 'NITI Aayog' (National Institution for Transforming India)?
A. To allocate financial grants and plan expenditures for central ministries and state governments.
B. To act as the premier policy think-tank of the Government of India providing both directional and policy inputs.✓ Correct Answer
C. To audit government accounts and present reports to Parliament.
D. To fix minimum support prices for agricultural commodities.
💡 Solution & Explanation
NITI Aayog functions as the apex public policy think-tank of the Government of India, replacing the erstwhile Planning Commission to foster cooperative federalism and provide strategic policy advice. It lacks financial allocation powers, which remain under the purview of the Ministry of Finance, and does not audit accounts or fix agricultural prices. The Prime Minister serves as the Chairperson of NITI Aayog, guiding its overarching developmental vision.
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