Modi chairs first NITI Aayog meeting

Chairing the first meeting of newly constituted NITI (National Institute for Transforming India) Aayog, Prime Minister Narendra Modi on Friday sought suggestions for a growth-oriented Budget that his government is going to present two weeks from now.

The main focus of the meeting, in which a host of economists from outside the NITI Aayog were invited, was boosting growth in the agriculture sector, infrastructure financing, and discussions on how the two can contribute to alleviating poverty. Modi said the objective of NITI Aayog was to establish a dynamic institutional mechanism where individuals outside the government could contribute to policy making.

“India must develop fast, taking advantage of the current global environment, to meet the aspirations of the people," Modi said during his first visit to NITI Aayog created after abolishing the Planning Commission. Global cues such as fall in crude and other commodity prices coupled with a Quantitative Easing by the European central bank have presented India with an excellent opportunity to reduce subsidies and perk up investment climate.

Modi is meeting the governing Council of NITI Aayog on Sunday to seek their suggestions on effective functioning of the Aayog and how it can contribute towards better centre-state relations. The Governing Council comprises state chief ministers and lieutenant-governors of union territories.