Unit-5 : INFRASTRUCTURE OF PROGRESS
Economic Terms
- Asset Monetization:Converting underutilized public assets into revenue for the government.
- Carbon Efficiency:Producing outputs with minimal carbon emissions compared to similar sectors.
- Disinvestment:Selling government ownership stake in a company to raise funds.
- Financial Inclusion:Making financial services accessible and affordable to all.
- Global Innovation Index (GII):A tool for governments to assess innovation in their countries.
- Net Zero:Balancing greenhouse gas emissions with removals from the atmosphere.
- Onshore Income:Interest earned by offshore banking units from loans/investments with residents.
Government Initiatives
- e-panchayat:Aims to provide updated information online and computerize gram panchayats (village councils).
Chapter-18 : Planning
NITI Aayog: Transforming India’s Development Approach
Established: 2015 (replacing the Planning Commission)
Goal: Be a catalyst for development beyond the public sector, focusing on:
- Cooperative federalism (collaboration between central & state governments)
- Knowledge sharing
- Good governance
Roles and Functions:
- Think Tank:Provides strategic and technical advice to central and state governments.
- Policy Monitoring:Tracks progress, suggests improvements, and recommends mid-course corrections.
- Research & Dissemination:Conducts research, publishes papers, and organizes workshops.
Composition:
- Chair:Prime Minister
- Governing Council:Chief Ministers of states and union territories
- Special Invitees:Experts and practitioners
- Members:Full-time and part-time members from universities and research institutions
- CEO:Appointed by the Prime Minister
Evolution from Planning Commission:
- Established in 1950 to drive economic growth and social development.
- Formulated Five-Year Plans with specific socio-economic targets. (Details on plans provided in background section)
- NITI Aayog replaced the Planning Commission in 2015 to:
- Create a long-term vision and strategy.
- Adapt development strategies to a changing economy.
Key Initiatives:
- Atal Innovation Mission (AIM):Promotes innovation and entrepreneurship.
- Atal Tinkering Labs (ATLs): Foster innovation among high-school students.
- Atal Incubation Centres (AICs): Support startups.
- Atal Community Innovation Centres (ACICs): Encourage grassroots innovation.
- National Monetisation Pipeline (NMP):Raises funds by monetizing government assets.
- Unlocks value from underutilized infrastructure.
- Attracts private investment through InvITs and REITs.
- Development Monitoring and Evaluation Office (DMEO):
- Monitors progress and effectiveness of government programs.
- Advises ministries on resource allocation and adjustments.
- Science & Technology Vertical:Promotes science and technology.
- Aims to improve India’s Global Innovation Index (GII) ranking.
Overall, NITI Aayog plays a critical role in guiding India’s development by fostering collaboration, innovation, and evidence-based policymaking.
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