The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015. NITI Aayog is the Think Tank of the Government of India, providing both directional and policy inputs. While designing strategic and long term policies and programs for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.
The Government of India, in keeping with its reform agenda, constituted the NITI Aayog to replace the Planning Commission instituted in 1950.
Like the erstwhile Planning Commission, Niti Aayog is chaired by the Prime Minister of India. Arvind Panagriya the vice-chairman was appointed by Narendra Modi to head Niti (National Institution for Transforming India) Aayog immediately after its creation on 1 January.
The vice-chairman resigned from the post on Tuesday giving the reason that he had to go back to his first love of teaching at the Columbia University. He will continue in the office till 31 Aug and will then return to Columbia University for teaching. The internationally accomplished economist met Modi and explained to him that he had to return to teaching and gave his resignation.
Few are of the belief that Arvind might have resigned because of CEO Amitabh Kant, as both of them were two prominent personalities in two powerful positions at the same organisation and hence could have possibly crossed ways at some point.