Question

When was the Planning Commission established in India?

• A. 1950
• B. 1951
• C. 1952
• D. 1953

Answer 1

Answer:

A. 1950

• The Planning Commission was an advisory body set up by the Government of India to formulate policies for the development of the Indian economy and the improvement of the living standards of the people of the country.

• Established: 15 March 1950.

• Headquarters: Yojana Bhavan, New Delhi.

• The Prime Minister was the ex-officio chairman of the Planning Commission.

Objectives:

• To ensure balanced economic development through efficient use of the country's resources.

• To formulate five-year plans and assess their progress.

• To prepare plans to achieve social and economic goals.

• In 2014, the government of Prime Minister Narendra Modi dissolved the Planning Commission and replaced it with a new institution called NITI Aayog.

• NITI Aayog came into existence on 1 January 2015.