Reforms and Urbanization NITI Aayog
NITI Aayog provides a useful roadmap for reforms and faster urbanization.
NITI Aayog is actually one type of policy and which is created by the BJP Government.It is also Known as “National Institution for Transforming India”.
Narendra Modi is the chairperson of it. NITI Aayog is established For the replacement of the planning commission which followed the top-down model. NITI Aayog is to involvement and participation in the economic policymaking process by the state government of India. All chief ministers of states, chief ministers of Delhi and Puducherry, Lieutenant Governor of Andaman and Nicobar are the members of it. The government has established a think-tank by the NITI Aayog. Think-tank can help the system to make the better innovation and support to the country.
Finance Minister Arun Jaitley made some observation on the necessity of creating NITI Aayog.He said That Planning Commission is now redundant organization. It was relevant in a command economy structure, but not any longer. India is a diversified country. So it needs some improvement in there
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NITI Aayog has released some of the fundamental things which can help to boost the economy and its reforms last week. The NITI Aayog focus on those areas which can boost economic growth in the future. NITI Ayog will help India to realize its long-term aspirations: Urbanization and infrastructure. Improvement in Urbanization and infrastructure helps to boost the economy. To full fill that needs now the government should focus on their investment in the private sector.
So that government should enhance its capacity to design frameworks for the private sector. Because it has the incentive to invest and projects run their full course. The NITI Aayog also focuses on that thing, India should make regularity changes on the path of faster Urbanization. Faster Urbanization will boost the economy.Another Reason Population growth over five decades harmed our economy. The share of rental housing in overall housing has dropped. This can be remedied within a short period by freeing up laws governing rent controls, and ceilings, the floor space index and stamp duties.