The NITI AAYOG (National Institution for Transforming India) is a policy think tank of the Government of India. The Headquarters is situated in New Delhi. Its main is to achieve sustainable development goals in connection with cooperative federalism by fostering the involvement of State Governments of India in the economic policy-making process using a bottom-up approach. It was formed on 1st January 2015.
The main features of NITI Aayog are developing itself as a State-of-the-art Resource Centre, with the necessary resources, knowledge, and skills, that will enable it to act with speed, promote research and innovation, provide strategic policy vision for the government, and deal with contingent issues. In 2014, the honorable Prime Minister of India Shri. Narendra Modi announced the Planning Commission’s abolition and created NITI Aayog through an executive resolution. It can be considered as neither a constitutional body nor a statutory body.
The Vice-Chairman of NITI AAYOG Mr. Rajiv Kumar said that the Indian economy will recover in the Fourth Quarter (Q4) and the cloud will grow by 6 percent in the next fiscal year on a low base, by hoping that the COVID will begin to taper in the upcoming months. Around 15-16 sectors already estimated their green shoots whereas business is back to the Pre-COVID levels. There might be a chance for another stimulus from the government to boost the demand. He smoothly points out that the Indian economy was bottoming out in the fourth quarter of 2019-20 after seeing a low of 4.5 percent growth but the outbreak of COVID-19 resulted in a significant negative impact in the first quarter of this fiscal. The Government looks at stimulus packages again to revive investment spirit and boots the demand
Before outlining the challenges faced by India in the post-COVID period the country will have to design and implement necessary structural reforms that can be used to ensure the post-COVID recovery as possible. He added a relevant content without mentioning the name of the institutions that India will have to actively collaborate with the rest of the world to redesign some of the global institutions and regulations even as some of them have reached the export data. We will have to more concentrate on the technological front because the post-COVID technology turbulence can bring tremendous impacts on many countries. He concludes his words by saying that all the necessary foundations will be built in the “Aatma Nirbhar Bharat” which will result in a very unique engagement of India with the rest of the world.
