Why is Planning Commission replaced with NITI Aayog?

The Government of India constituted NITI Aayog to replace the Planning Commission, which had been instituted in 1950. This step was taken to better serve the needs and aspirations of the people.

What is new in NITI Aayog?

Government think-tank Niti Aayog on Wednesday proposed setting up of full-stack ‘digital banks’, which would principally rely on the internet and other proximate channels to offer their services and not physical branches, to mitigate the financial deepening challenges being faced in the country.

What is the difference between NITI Aayog and Planning Commission?

NITI Aayog is basically a think-tank or an advisory body. The Planning Commission had the power to impose policies on States and for the projects approved by the Planning Commission. The powers for allocation of funds have not been given to the NITI Aayog. The powers are with the Finance Ministry.

Is NITI Aayog important for UPSC?

The NITI Aayog is a very important topic for the UPSC civil services exam.

What does STT stands for under Pmkvy?

Further,Short Term Training (STT) component under Centrally Sponsored Centrally Managed(CSCM)is being implemented through National Skill Development Corporation (NSDC).

What is meant by India at 75?

Azadi Ka Amrit Mahotsav is an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and the glorious history of it’s people, culture and achievements.

What is the difference between Finance Commission and Planning Commission?

Finance Commission is a Constitutional body whereas the Planning Commission is a non-statutory institution. The Finance Commission assesses the non-plan requirements of the State Governments and recommends a share in the net yield from the Central and Grants-in-aid.

How are the principles followed by the NITI Aayog different from those followed by the erstwhile Planning Commission in India 2018?

Pro-People: NITI Aayog has followed bottom up approach in policy formulation unlike Planning Commission which followed top down approach. It has followed pro-people approach where focus is to fulfill the aspirations of society as well as individuals.