× #1 Viksit Bharat @ 2047: Economic Roadmap and Challenges #2 Re-evaluating India’s GDP Calculation Methodology and Base Year #3 Capital Expenditure (Capex) as a Driver of Economic Growth #4 The Persistent Challenge of “Jobless Growth” in India #5 Rationalization of the GST Regime and Inclusion of Excluded Items #6 The National Monetisation Pipeline (NMP): Progress, Hurdles, and Economic Impact #7 Fiscal Consolidation Path and Review of the FRBM Act #8 Production Linked Incentive (PLI) Scheme: Sectoral Impact and Employment Generation #9 Introduction To boost manufacturing, reduce import dependency, and make India an integral part of global supply chains, the Government of India launched the Production Linked Incentive (PLI) Scheme in #10 The Gig Economy: Growth, Opportunities, and the Need for Social Security #11 PM Gati Shakti National Master Plan: Integrating Infrastructure and Logistics #12 Revitalizing Public-Private Partnership (PPP) Models for Infrastructure #13 India’s Semiconductor Mission: Building a Resilient Electronics Supply Chain #14 Strategic Disinvestment Policy: Rationale, Progress, and Criticisms #15 Central Bank Digital Currency (CBDC): The Future of the Indian Rupee #16 Free Trade Agreements (FTAs): Opportunities, Risks, and Impact on Domestic Industry #17 Corporate Debt Market Deepening and the Role of the Corporate Debt Market Development Fund #18 The Challenge of Rising Regional Economic Disparities #19 Ease of Doing Business: From Global Rankings to Ground-Level Reforms #20 India’s Energy Transition: Economic Costs and Opportunities #21 Inflation Targeting and the Monetary Policy Committee (MPC): An Evaluation #22 Role of NITI Aayog in Cooperative and Competitive Federalism #23 Reforming the Special Economic Zone (SEZ) Act (DESH Bill) #24 Tackling Inequality: Wealth and Consumption Disparities #25 National Logistics Policy: Reducing Costs and Improving Efficiency #26 The Role of Monetary Policy in Controlling Inflation #27 How Fiscal Policy Impacts Economic Growth and Stability #28 The Effect of Public Debt on National Economies #29 The Influence of Interest Rates on Investment and Consumption #30 Global Economic Trends: How AI and Emerging Markets Shape Growth #31 Analyzing the Economic Impact of War and Conflict on National Economies #32 National Income #33 sectors of economy #34 circular flow of income #35 Demand #36 Supply #37 Five-Year Plans of India: Steering the Nation’s Economic Development #38 Consumer Equilibrium: Understanding Optimal Consumer Choice in Economics #39 Budget: A Comprehensive Economic Blueprint for Planning and Progress #40 Inflation: Understanding the Rise in Prices and Its Economic Impact #41 Money Aggregates: Understanding the Different Measures of Money Supply #42 Brain Drain: Understanding the Loss of Talent and Its Impact on National Growth #43 The impact of international trade agreements on export competitiveness and market access. #44 Assessing the effects of foreign aid on economic development in recipient countries. #45 Effects of gig economy on labor markets. #46 Evolving landscape of international trade in the post-COVID era. #47 Banking: The Backbone of Economic Development #48 Understanding the Business Cycle: Phases, Causes, and Implications #49 Understanding the Balance of Payments: Components, Importance, and Economic Impact #50 Understanding Stagflation: Causes, Effects, and Policy Challenges #51 Cryptocurrency and the Future of Money #52 Stock Market Volatility and Investor Behavior #53 Interest Rate Changes and Their Ripple Effects #54 Crowdfunding and Alternative Investment Models #55 Financial Inclusion through Digital Platforms #56 Poverty Alleviation Programs: Successes and Shortcomings #57 Income Inequality and Redistribution Mechanisms #58 Role of Education and Health in Human Capital Development #59 The Informal Economy: Size, Benefits, and Challenges #60 Gender Economics: Women in Labor Markets #61 Universal Basic Income (UBI): Can It Work? #62 ESG Investing and Sustainable Finance: Redefining Capitalism #63 Venture Capital and Startup Ecosystems: Fueling the New Age of Entrepreneurship #64 Inflation-Indexed Bonds and Their Relevance: A Safe Haven in Volatile Time #65 Sovereign Wealth Funds and Global Influence: Power Beyond Borders #66 Shadow Banking: An Unregulated Threat or Financial Innovation? #67 Microfinance and Poverty Reduction: Real Impact or Illusion?

INDIAN ECONOMY

Introduction

India’s unique federal structure demands a delicate balance between cooperation and autonomy. While the Constitution lays out the federal principles, the practical working of Indian federalism has evolved over time.

In 2015, the Government of India replaced the Planning Commission with the National Institution for Transforming India (NITI) Aayog, signaling a shift from centralized planning to bottom-up development. One of NITI Aayog’s core mandates is to promote cooperative and competitive federalism.

Through collaborative frameworks, performance-based rankings, and sectoral reforms, NITI Aayog has emerged as a key enabler of Centre–State relations in the 21st century.


Understanding Federalism in India

Cooperative Federalism

This refers to the collaborative functioning of the Centre and States to achieve shared national goals. It emphasizes joint decision-making, dialogue, and inclusive development strategies.

Competitive Federalism

Competitive federalism is about encouraging states to compete in delivering better governance, ease of doing business, social indicators, and attracting investments — thereby fostering a spirit of performance-based rivalry for the common good.


The Genesis of NITI Aayog

  • Formed on 1st January 2015, NITI Aayog replaced the Planning Commission.

  • Unlike its predecessor, it does not allocate funds to states; instead, it provides policy advice, fosters innovation, and enables states to shape their own development paths.

  • The Prime Minister is the Chairperson, and the Governing Council includes all Chief Ministers and Lt. Governors.


NITI Aayog and Cooperative Federalism

1. Governing Council as a Federal Forum

The Governing Council serves as a platform for inter-governmental dialogue. Through annual meetings, state leaders discuss:

  • National development agendas

  • Implementation challenges

  • Region-specific concerns

This collaborative setting gives all states an equal voice in policymaking.

2. Decentralized Planning

NITI Aayog advocates bottom-up planning, allowing states to design development models based on their regional needs rather than one-size-fits-all directives from the Centre.

3. SDG Localization

The Aayog works closely with states to localize Sustainable Development Goals (SDGs) by offering performance reports, toolkits, and model policies.

4. Joint Task Forces and Sectoral Committees

Whether it’s agriculture, health, or infrastructure, NITI Aayog sets up joint working groups that include state officials and experts to ensure inclusive strategies.


NITI Aayog and Competitive Federalism

1. Index-Based Rankings

To trigger performance-oriented competition, NITI Aayog publishes several ranking indexes:

  • Health Index

  • School Education Quality Index

  • Aspirational Districts Rankings

  • Export Preparedness Index

  • State Energy & Climate Index

These rankings are based on objective metrics and data, encouraging states to improve services and outcomes.

2. Ease of Doing Business

NITI Aayog collaborates with states to enhance business friendliness by identifying regulatory bottlenecks and encouraging reforms — helping states compete for investments.

3. Aspirational Districts Programme (ADP)

Launched in 2018, ADP encourages 112 backward districts to compete on development parameters like health, education, agriculture, and basic infrastructure. Districts are ranked monthly, and real-time dashboards track progress.

4. Atal Innovation Mission (AIM)

Through AIM, NITI Aayog funds incubators and innovation labs across states and schools — encouraging grassroots innovation and competitive spirit among youth and institutions.


Major Achievements

  • Encouraged evidence-based policymaking among states.

  • Created non-partisan spaces for collaboration despite political differences.

  • Helped improve inter-state benchmarking in critical sectors like health and education.

  • Catalyzed reforms in New Education Policy, Digital India, and energy transitions through joint consultations.


Challenges Faced

1. Lack of Statutory Backing

NITI Aayog is not a constitutional body. Its recommendations are advisory in nature, limiting enforceability.

2. Political Friction

States sometimes allege Centre’s bias in rankings or lack of flexibility in national policies, leading to strained relationships.

3. Fund Allocation Gap

Since NITI Aayog doesn’t have financial powers (unlike the Planning Commission), it relies on persuasion rather than incentives to push states toward reforms.


The Road Ahead

Strengthening Fiscal Autonomy

While cooperative federalism thrives on shared agendas, it needs to be backed by adequate fiscal resources. Strengthening the role of Finance Commissions and ensuring predictable transfers is key.

Making Rankings More Inclusive

Index-based performance should be customized for regional contexts to ensure fairness and relevance for all states, including smaller and backward ones.

Enhancing Digital Collaboration Platforms

NITI Aayog can further digitize data-sharing platforms and real-time dashboards for transparency and improved inter-state learning.

Engaging Civil Society and Local Governments

To deepen federalism, the Aayog should actively involve Panchayati Raj Institutions and urban bodies, making cooperative federalism a multi-tiered endeavor.


Conclusion

NITI Aayog has become the engine of India’s evolving federalism, serving as a dynamic bridge between the Centre and the States. Its twin pillars of cooperative and competitive federalism are vital in aligning state priorities with national ambitions.

While it has limitations in terms of statutory power and fiscal control, its influence as a knowledge partner, policy innovator, and performance enabler is undisputed. With better inclusion, transparency, and sustained engagement, NITI Aayog can continue to transform India’s development story through shared vision and healthy rivalry among states.