Explain the composition and role of NITI Aayog in India's Socio-economic change.

The National Institution for Transforming India (NITI) Aayog, also known as the National Institution for Transforming India, is a policy think tank of the Government of India, established with the aim of achieving sustainable development goals with cooperative federalism by fostering the involvement of state governments of India in the economic policy-making process using a bottom-up approach. It was established by the Government of India on 1 January 2015, replacing the Planning Commission, which had been in existence since 1950.

NITI Aayog is headed by the Prime Minister of India and comprises a Governing Council and a Vice Chairman, as well as several other members and ex-officio members. The Governing Council includes the Chief Ministers of all the states and Union Territories, as well as several Union Ministers and other senior officials from the Government of India. The Vice Chairman of NITI Aayog is appointed by the Prime Minister, and the other members and ex-officio members are appointed by the Government of India.

The main functions of NITI Aayog include:

• Providing a vision for the development of the country, as well as for the social and economic transformation of the states.

• Formulating strategies for the sustainable development of the country, including the development of a long-term vision and action plan.

• Providing a platform for the exchange of ideas and best practices between the states and the Union Government.

• Providing technical support to the states in the formulation and implementation of development policies and programs.

• Promoting the involvement of all stakeholders, including the private sector and civil society organizations, in the development process.

• Providing policy recommendations to the Union Government on matters of national and international importance.

Overall, the role of NITI Aayog is to serve as a think tank and policy forum for the Government of India, providing a platform for the exchange of ideas and best practices between the states and the Union Government, and providing technical support to the states in the formulation and implementation of development policies and programs. It aims to promote cooperative federalism and foster the involvement of state governments in the economic policy-making process, with a focus on achieving sustainable development goals and transforming India into a prosperous and equitable society.