Why in the news ?

• Policy think-tank NITI Aayog recently declared that it is preparing another list of sick PSUs that can be privatised.

More on news

• The Aayog has already recommended strategic divestment of 40 sick public sector units.
• The Prime Minister’s Office (PMO) had asked the think- tank to look into the viability of sick state-run companies.
• NITI Aayog already sent 4 list of sick PSUs and now is working on the fifth list.
• The government expects to raise Rs 80,000 crore from PSU disinvestment in the next fiscal, lower than Rs 1 lakh crore raised this financial year.
• The 2017-18 Budget had set the target of disinvestment in public sector units at Rs 72,500 crore.
• This included Rs 46,500 crore as disinvestment of CPSEs, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from listing of insurance companies.

NITI Aayog

• The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015.
• The Government of India  constituted the NITI Aayog to replace the Planning Commission instituted in 1950.
• NITI Aayog is the premier policy ‘Think Tank’ of the Government of India, providing both directional and policy inputs.
• While designing strategic and long term policies and programmes for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.
• An important change from the past will be replacing a centre-to-state one-way flow of policy by a genuine and continuing partnership with the states, in order to foster cooperative federalism recognizing that strong States make a strong nation.
• This was done in order to better serve the needs and aspirations of the people of India.
• The NITI Aayog will comprise the following:
• Prime Minister of India as the Chairperson.
• Vice-Chairperson: To be appointed by the Prime Minister.
• Governing Council comprising the Chief Ministers of all the States and Lt. Governors of Union Territories
• Regional Councils will be formed to address specific issues and contingencies impacting more than one state or a region.   
• Experts, specialists and practitioners with relevant domain knowledge as special invitees nominated by the Prime Minister
• The full-time organizational framework will comprise of, in addition to the Prime Minister as the Chairperson.
• Members: Full-time
• Part-time members: Maximum of 2 from leading universities research organizations and other relevant institutions in an ex-officio capacity.
• Part time members will be on a rotational basis.
• Ex Officio members: Maximum of 4 members of the Union Council of Ministers to be nominated by the Prime Minister.
• Chief Executive Officer : To be appointed by the Prime Minister for a fixed tenure, in the rank of Secretary to the Government of India.
• Secretariat as deemed necessary.

Source

India Express, PIB and NITI Aayog.