Statement 1 : The Gadgil Formula-based grants after

Solution

As the Planning Commission has been dismantled after NITI Aayog 2015, the Gadgil formula based grants have also been discontinued. This has been compensated by increasing devolution from the divisible pool. 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 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. The Constitution of NITI Aayog is as follows : Chairperson: Shri Narendra Modi Vice Chairperson: Arvind Panagariya Full-Time Member: Prof. Ramesh Chand Full-Time Member: Profile - Shri V.K. Saraswat Full-Time Member: Profile - Shri Bibek Debroy Chief Executive Officer: Shri Amitabh Kant