Question : The Planning Commission of India was replaced by NITI Aayog in_____________.
Option 1: 2016
Option 2: 2015
Option 3: 2018
Option 4: 2017
Correct Answer: 2015
Solution : The correct answer is 2015.
The Planning Commission of India, established on March 15, 1950, to formulate 5-year plans, was replaced by NITI Aayog on January 1, 2015. Prime Minister Narendra Modi announced this transformation on Independence Day. The Planning Commission, initially modeled on the USSR's system, aimed to estimate India's capital and resources. NITI Aayog inaugurated as a policy think tank, marked a shift towards a more dynamic and inclusive approach to economic planning.
Answer laterQuestion : On 8th September 2022, NITI Aayog launched the country's first national electric freight platform "Electric Freight Accelerator for Sustainable Transport (e-FAST India)" in collaboration with_____.
Option 1: International Monetary Fund
Option 2: World Resources Institute
Option 3: World Bank
Option 4: World Health Organisation
Correct Answer: World Resources Institute
Solution : The correct answer is the World Resources Institute.
On 8th September 2022, NITI Aayog and World Resources Institute (WRI), India, jointly launched e-FAST India (Electric Freight Accelerator for Sustainable Transport), the nation’s inaugural electric freight platform. With road freight transport anticipated to play a significant role in emissions, e-FAST India is a crucial step in developing a roadmap for India's transport sector decarbonisation in alignment with COP26 commitments.
Question : Who decides the Repo Rate in India?
Option 1: NITI Aayog
Option 2: RBI
Option 3: Ministry of Finance
Option 4: Parliament
Correct Answer: RBI
Solution : The correct answer is RBI.
The Repo Rate is determined every two months by the Monetary Policy Committee of the Reserve Bank of India.
Question : The Planning Commission in India was replaced by which organization in 2015?
Option 1: NITI Aayog
Option 2: Ministry of Finance
Option 3: Reserve Bank of India
Option 4: Ministry of Planning
Correct Answer: NITI Aayog
Solution : The correct answer is (a) NITI Aayog in 2015.
The Planning Commission, established in 1950, was a government body responsible for formulating and implementing Five-Year Plans and overseeing the country's development policies and programs. However, in 2014, the Indian government announced its decision to dissolve the Planning Commission and replace it with a new institution that would better align with the contemporary development needs and priorities of the country.
Accordingly, in January 2015, the National Institution for Transforming India (NITI Aayog) was formed as a policy think tank and a successor to the Planning Commission. NITI Aayog stands for "National Institution for Transforming India" and operates under the guidance of the Prime Minister of India.
NITI Aayog's primary role is to provide strategic and technical advice to the government on various policy matters, undertake research and analysis, facilitate cooperative federalism, and promote inclusive and sustainable development across different sectors of the economy. It focuses on fostering innovation, entrepreneurship, and evidence-based policy formulation.
The establishment of NITI Aayog aimed to bring about a more flexible, adaptive, and participatory approach to planning and development in India, reflecting the changing socio-economic landscape of the country.
