Question : The Modi Government at the Central has formed NITI Aayog by replacing which one of the following?
Option 1: Fiscal Commission
Option 2: Finance Commission
Option 3: Agricultural Price Commission
Option 4: Planning Commission
Correct Answer: Planning Commission
Solution : The correct answer is the Planning Commission.
The Planning Commission was established on March 15th, 1950 , an advisory body whose primary goal was to create 5-year plans for the nation in line with the USSR. After Prime Minister Narendra Modi's significant announcement on Independence Day, which went into effect on January 1st, 2015, the Union Government replaced the Planning Commission with NITI Aayog.
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