Correct option is D
● The Planning Commission was not established by the Constitution or by a law of Parliament.
● It was created on 15 March 1950 through a Government of India Resolution, making it an extra-constitutional and non-statutory body.
● It was chaired by the Prime Minister of India.
● First Chairman: Jawaharlal Nehru.
● Its main function was to prepare Five-Year Plans for India.
● It was dissolved in 2014 and replaced by NITI Aayog (2015).
● The Planning Commission had the power to allocate funds to states.