The correct answer is option 3. • National Institution for Transforming India • It is also known as NITI Aayog, which was formed via a resolution of the Union Cabinet on 1 January 2015 to replace the Planning Commission. Hence, statement a is correct. • It is the premier policy think tank of the Government of India, providing directional and policy inputs. • Apart from designing strategic and long-term policies and programs for the Government of India, NITI Aayog also provides relevant technical advice to the Centre, States, and Union Territories. • The Governing Council of NITI Aayog is chaired by the Hon'ble Prime Minister and comprises Chief Ministers of all the States and Union Territories with legislatures and Lt Governors of other Union Territories. Explanation & Key Takeaways: • In carrying out the above functions, NITI Aayog will be guided by an overall vision of development that is inclusive, equitable, and sustainable. • A strategy of empowerment built on human dignity and national self-respect. • Normative Planning • The normative approach of planning is value-based. • Planning remains according to the value system of the target population. • The focus is on the economic aspects of development. • Socio-cultural variables are taken care of. • Only quantitative data matters. • Niti Aayog was established for this approach only to plan according to culture, ethos, and sustenance. Hence, statement b is correct.