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Economist Arvind Panagariya appointed as Vice Chairman of NITI Aayog

Jan 6, 2015 09:09 IST

Prime Minister Narendra Modi on 5 January 2015 appointed economist Arvind Panagariya as the Vice Chairman of National Institution for Transforming India (NITI) Aayog. Another economist, Bibek Debroy and former Defence Secretary V K Saraswat were appointed as full-time members of the Aayog.


Other appointments of the NITI Aayog include
• Ex-officio members – Home Minister Rajnath Singh, Union Finance Minister Arun Jaitley, Railways Minister Suresh Prabhu and Agriculture Minister Radha Mohan Singh
• Special invitees – Union Transport minister Nitin Gadkari, Union Social Empowerment Minister Thawar Chand Gehlot and HRD minister Smriti Irani

Arvind Panagariya
• He is a professor of economics at Columbia University in New York
• Panagariya (62) co-authored a book titled India’s Tryst with Destiny along with eminent economist Jagdish Bhagwati. The book praises Gujarat’s growth model.
• He is an expert in international trade and a staunch advocate of free-market economics
• He is a former chief economist at the Asian Development Bank
• He has also worked with the IMF, WTO and World Bank in various capacities
• He is a native of Rajasthan and holds a PhD from Princeton University


Background

The Union Government on 1 January 2015 replaced the 65-year old Socialist-era planning commission with NITI Aayog to serve as the think tank of the government. The NITI Aayog that will be chaired by Prime Minister Narendra Modi will provide a relevant strategic and technical advice across key elements of policy like Union and State Governments.

Its governing council will include Chief Ministers of all states and lieutenant governors of Union Territories.  

Niti Aayog was formed after a wide range of consultation with various stakeholders including the Chief Ministers of all states.

 

Is this article important for exams ? Yes

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