In which year was the Planning Commission of India set up?

Correct option is C

The correct answer is (c) 1950.
· The Planning Commission of India was set up on 15th March 1950 by a resolution of the Government of India.
· Its primary role was to formulate Five-Year Plans and strategize the effective use of the country's resources.
· The commission was an advisory body to the government, headed by the Prime Minister as the Chairperson.
Key Features:
· Objective: To promote rapid and balanced economic growth, increase employment opportunities, and improve the living standards of the people.
· First Chairman: Jawaharlal Nehru, the then Prime Minister of India.
· First Five-Year Plan: Launched in 1951, focusing on agriculture and irrigation.
· Replaced by NITI Aayog: On 1st January 2015, the Planning Commission was replaced by the NITI Aayog (National Institution for Transforming India) to address contemporary economic challenges.
Information Booster:
· NITI Aayog:
· Functions as a think tank for the Government of India.
· Focuses on cooperative federalism and participatory development.