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NITI Aayog   also known by the acronym the  National Institution for Transforming India , is a  Government of India  policy think-tank established by the BJP government to replace the  Planning Commission  which followed the  top-down model. The stated aim for NITI Aayog's creation is to foster involvement and participation in the economic policy-making process by the  State Governments of India. The emphasis is on  bottom-up approach  and make the country to move towards  cooperative federalism. The Union Government of India announced the formation of NITI Aayog on 1 January 2015, and the first meeting was held on 8 February 2015.