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.
