NITI Aayog (National Institution for Transforming India) was established in January 2015, replacing the Planning Commission. It serves as the premier policy think tank of the Indian government, aimed at fostering cooperative federalism and driving sustainable economic development.

Objectives:

1. Policy Formulation: NITI Aayog supports the central and state governments in policy formulation and implementation strategies, focusing on holistic development.
2. Strategic Planning: It emphasizes long-term strategic planning and addressing emerging challenges through research and analysis.
3. Cooperative Federalism: It promotes collaboration between the central and state governments to achieve equitable and inclusive growth.
4. Innovation and Reforms: It encourages innovation and reforms in various sectors, including health, education, and infrastructure.

Composition: NITI Aayog comprises a Chairperson (Prime Minister of India), a Vice-Chairperson, and members including full-time and part-time members appointed by the central government. It also includes a CEO and a team of professionals.

Significant Achievements:

1. Transforming Schemes: Initiated reforms in several schemes like the Pradhan Mantri Jan Dhan Yojana (PMJDY) and Swachh Bharat Mission.
2. Sustainable Development Goals (SDGs): Played a pivotal role in integrating SDGs into national policies.
3. State Collaboration: Enhanced cooperative federalism by working closely with states on various developmental programs.