When was the Planning Commission of India dissolved by the Union Government of India?

Correct option is B

Sol. The Planning Commission of India dissolved by the Union Government of India in 2014.
 The Planning Commission of India was formed on 15 March 1950. It formulated the Five-Year Plans of India. On 17 August 2014, it was dissolved and replaced by the NITI Aayog.
 The chairman of the Planning Commission was the Prime Minister ex-officio
 The 12th Five Year Plan was going on from 2012 to 2017.
 The NITI Aayog was formed on January 1, 2015.
 NITI stands for “National Institution for Transforming India”. It is basically a think-tank or an advisory body.
 Its function is to foster cooperative federalism through structured support initiatives and mechanisms with the States on a continuous basis, recognizing that strong States make a strong nation.
 Dr. Suman K Beryhas been appointed new Vice Chairperson of NITI Aayog.
 Arvind Panagariyawas appointed as the first vice-chairman of the Niti Aayog in 2015.