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The principal reason why national economic planning is still being pursued in spite of embracing a market economy since 1991 is that :

Correct option is C

• The national economic planning was pursued in spite of embracing a market economy since 1991, because Five Year Plans could continue to provide a long-term perspective to the economy in market-friendly fashions. 

• However, the Five Year Plans were laid to rest by the Narendra Modi-led NDA government and the 12th Five Year Plan (2012-17) is considered the last Five Year Plan of India. 

• The NITI Aayog has replaced the Planning Commission and launched a three-year action plan as a part of a seven-year strategy and a 15-year vision document.

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