Then, the government’s unprecedented legislative majority and Modi’s own rhetoric raised expectations that he would focus on opening up India’s economy to the world. The body became instead the National Institution for Transforming India, or NITI “Aayog” -- Hindi for “policy commission.” (Modi has a well-known weakness for acronyms and bilingual puns.) Panagariya was named its first administrative chief.The move seemed to confirm hopes that the government intended wholesale changes to India’s sclerotic economy. Panagariya was a highly regarded theorist of international trade who had written several books on openness, markets and the state in India. One of those, the Swadeshi Jagran Manch, has gone after NITI Aayog for its supposed “pro-corporate” agenda, accusing the institution of “lobbying” for pharmaceutical companies.

Source: Economic Times August 10, 2017 01:03 UTC