banking service chronicle magazine Published this articles page no 15 They are now empowered to decide how best to use their funds without being mandated to follow a top-down direction. The Niti Aayog has replaced the Central Governments practice of unilaterally designing the pan-Indian development strategy-while working with State Governments to jointly prepare development blueprints that are suited to and take into account the special circumstances of each State. It is likely to be a superior approach in as large and diversified a country like India with its continental dimensions. Notably the Planning Commission adopted a onesize-fits-all approach towards the Indian States. banking service chronicle magazine
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