Which institution was established in 2015, in the place of Planning commission of India?

Question

Question

This question was previously asked in

SSC GD Constable (2024) Official Paper (Held On: 20 Feb, 2024 Shift 1)

Answer 1

The correct answer is NITI Aayog

Key Points

NITI Aayog was established in 2015, replacing the Planning Commission of India.
NITI Aayog stands for National Institution for Transforming India.
It was formed to promote cooperative federalism and to foster involvement and participation of the state governments in the economic policy-making process using a bottom-up approach.
The institution serves as a policy think tank for the Indian government and provides strategic and technical advice on a range of issues including economic policy and development priorities.

Additional Information

The Planning Commission of India was established in 1950 and was responsible for formulating India’s Five-Year Plans.
The primary objective of the Planning Commission was to ensure the balanced and effective allocation of resources and to promote economic development.
With the establishment of NITI Aayog, the focus shifted from a centralized planning approach to a more decentralized and inclusive model of development.
NITI Aayog is headed by the Prime Minister of India and comprises a governing council with Chief Ministers of all the states and Lieutenant Governors of Union Territories.