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India PM replaces Soviet-style planning body, aiming to boost growth
Source: Reuters
India PM replaces Soviet-style planning body, aiming to boost growth
NEW DELHI Thu Jan 1, 2015 10:36am EST
(Reuters) - India has scrapped its 65-year-old Planning Commission, which Prime Minister Narendra Modi has accused of stifling growth with Soviet-style bureaucracy, replacing it on Thursday with a body he said would do more to involve the regions.
The new National Institution for Transforming India (NITI) will act more like a think tank or forum, say its supporters, in contrast with the Commission which imposed five-year-plans and allocated resources to hit set economic targets.
Despite being widely blamed for the slow growth that long plagued India, the Commission survived the market reforms of the early 1990s, riling Modi with its interventions when he was premier of the fast-growing state of Gujarat.
In a series of messages to his 9.1 million followers on Twitter, Modi said the body would replace the old one-size-fits-all approach with a "pro-people, pro-active & participative development agenda".
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NEW DELHI Thu Jan 1, 2015 10:36am EST
(Reuters) - India has scrapped its 65-year-old Planning Commission, which Prime Minister Narendra Modi has accused of stifling growth with Soviet-style bureaucracy, replacing it on Thursday with a body he said would do more to involve the regions.
The new National Institution for Transforming India (NITI) will act more like a think tank or forum, say its supporters, in contrast with the Commission which imposed five-year-plans and allocated resources to hit set economic targets.
Despite being widely blamed for the slow growth that long plagued India, the Commission survived the market reforms of the early 1990s, riling Modi with its interventions when he was premier of the fast-growing state of Gujarat.
In a series of messages to his 9.1 million followers on Twitter, Modi said the body would replace the old one-size-fits-all approach with a "pro-people, pro-active & participative development agenda".
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Read more: http://www.reuters.com/article/2015/01/01/us-india-politics-idUSKBN0KA1NE20150101
