Which Indian policy think tank established to promote sustainable development goals and cooperative federalism using a bottom up approach is being described?

Introduction / Context:
This question deals with a major institutional reform in India related to economic planning and policy. It asks about the organization that functions as a policy think tank for the Government of India, focusing on sustainable development goals and cooperative federalism through a bottom up approach. Knowing the difference between NITI Aayog and older bodies like the Planning Commission is essential for contemporary general knowledge and exam preparation.

Given Data / Assumptions:

• The organization is a policy think tank of the Government of India.
• Its aims include achieving Sustainable Development Goals and encouraging cooperative federalism.
• It involves state governments in economic policy making through a bottom up approach.
• The options are RBI, IRDAI, NITI Aayog, and the Planning Commission.

Concept / Approach:
The Reserve Bank of India is the central bank, IRDAI regulates insurance, and the former Planning Commission used to prepare five year plans. In contrast, NITI Aayog was created to serve as a modern policy think tank after the Planning Commission was replaced. It emphasizes partnership with states, sustainable development, and decentralized planning. Therefore, matching these features with the description in the question leads you directly to NITI Aayog.

Step-by-Step Solution:
Step 1: Note that the body described is a policy think tank rather than a regulator or central bank. Step 2: Observe that it is explicitly linked to Sustainable Development Goals and cooperative federalism, both modern governance themes. Step 3: Recognize that RBI focuses on monetary policy, not broad development planning, so option a is not correct. Step 4: Identify that IRDAI is an insurance regulator and does not coordinate national development policies or state participation, so option b is also incorrect. Step 5: Compare the roles of NITI Aayog and the old Planning Commission. NITI Aayog was created to replace the Planning Commission and is specifically described as a think tank using a bottom up approach. Step 6: Conclude that NITI Aayog best matches the description given in the question.
Verification / Alternative check:
You can verify by recalling that NITI in NITI Aayog stands for National Institution for Transforming India. Its officially stated objectives include cooperative federalism and support for the Sustainable Development Goals. The Planning Commission, by contrast, prepared centralized plans and did not emphasize the same modern framework. This confirms that NITI Aayog is the organization described.

Why Other Options Are Wrong:
RBI: The Reserve Bank of India is responsible for currency, monetary policy, and banking regulation, not for acting as a broad policy think tank on development.
IRDAI: This authority regulates insurance companies and products; it is not charged with driving Sustainable Development Goals or cooperative federalism.
Planning Commission: This body was the previous planning institution and has been replaced by NITI Aayog. It did not have the same explicit focus on Sustainable Development Goals or the same think tank structure.

Common Pitfalls:
Some students confuse the Planning Commission and NITI Aayog because both are associated with planning in India. A key way to avoid this is to remember that NITI Aayog is a new style think tank created in the twenty first century, whereas the Planning Commission was a more centralized body associated with five year plans. Whenever you see references to Sustainable Development Goals and cooperative federalism, you should think of NITI Aayog rather than the earlier institutions.

Final Answer:
The policy think tank described in the question is NITI Aayog.