Question

Which agency in India is responsible for formulating the Five Year Plans?

• A. Reserve Bank of India
• B. Ministry of Finance
• C. Planning Commission (up to 2014)
• D. National Development Council

Answer 1

Answer:

C. Planning Commission (up to 2014)

The Planning Commission of India, established in 1950, was responsible for formulating India's Five-Year Plans, which were later replaced by the NITI Aayog in 2015 On 15 March 1950 was Planning Commission established in India. The Planning Commission was an institution in the Government of India, which formulated India's Five-Year Plans, among other functions. In 2014, the Narendra Modi government replaced it with the newly formed NITI Aayog to better represent the present needs and aspirations of the people of India. Jawaharlal Nehru was the first Chairman of the Planning Commission.