Circular economy implies reusing waste back into the production cycle to produce new products and uses instead of wasting such materials with embedded resources.
NITI Aayog has given a list of around 50 assets, including land and building, of state-owned companies for sale to the Department of Investment and Public Asset Management, a wing of the Finance Ministry which deals with disinvestment.
In order to make India a $5 trillion economy by 2024, the prime minister said that states should aim to increase their economy by 2-2.5 times, which would lead to an increase in the common man's purchasing power.
The governing council discussed a host of national issues, including farm distress, drought and left wing extremism in several parts of the country.
Vijayan,in his speech at the 5th Governing Council meeting of NITI Aayog here, said that after doing away with the plans at the national level, states have lost the Gadgil formula, grants which they used to get asplan assistance earlier.
Punjab Chief Minister Amarinder Singh could not attend the meeting due to health reasons, sources said, adding that the state is being represented by its Finance Minister Manpreet Badal.
Bengal CM Mamata Banerjee has refused to attend the meeting, saying it is "fruitless" as Niti Aayog has no financial powers to support state plans
The agenda for the meeting also includes rain-water harvesting, aspirational districts programme and structural reforms in the agriculture sector, an official statement said.
The posts of Joint Secretaries are manned by the IAS, IPS and other service government officers.
Most state governments enter into annual contracts for social franchising partnerships.
He said this may lead to better business opportunities for manufacturers and will lead to rise in M2M communication.
Former Finance Minister Arun Jaitley in March had announced that the government exceeded its disinvestment target for FY18-19 by Rs 5,000 crore, as the proceeds touched Rs 85,000 crore.
PM Modi is set to chair the fifth meeting of the Niti Aayog's Governing Council on June 15 to discuss various issues regarding the country's development.
Around 70 per cent of the fresh water available in the country is contaminated, making India rank among the lowest vis-à-vis water quality index.
According to official sources, besides Shah, Defence Minister Rajanth Singh, Finance Minister Nirmala Sitharaman and Agriculture Minister Narendra Singh Tomar will be ex-officio members.
Rajiv Kumar will continue to be Vice Chairman, while VK Saraswat, Ramesh Chand, VK Paul have been named as new members of the policy think tank.
According to the Mines and Minerals Development and Regulation Act 2015, licences of mines expiring will not be renewed and the mines will be allotted on the basis of fresh auction.
The transfer of fertiliser subsidy directly into farmers' bank accounts was to be taken up in the second phase after taking inputs from Niti Aayog.
This will be the first governing council meeting under the new Modi government.
Rajiv Kumar, vice chairman of NITI Aayog, said the reforms will include changes in labour laws, privatisation moves, and creation of land banks for new industrial development
The government is keen on cashing in the potential of AI and assess the ability of different states to use it
The representation said that it is also not possible for a prospective buyer to bid for unsold quantity not required in the domestic market or exported because of 30 percent export duty.
Recently, several experts have expressed doubts over India's revised economic growth data.
NITI Aayog brought the curtains down on a 64-year-old institution founded on the former Soviet Union's command-style development model.
Cost of capital in India is quite high, which needs to be brought down, and there is also a need to create a land bank owned by public sector undertakings so that private investment can be attracted, Kumar said.