2. What do you understand by planning Commission?When Planning Commission was formed and also explain its aim and achievements
Answers
The Planning Commission was an institution in the Government of India, which formulated India's Five-Year Plans, among other functions. In his first Independence Day speech in 2014, Prime Minister Narendra Modi announced his intention to dissolve the Planning Commission. It has since been replaced by a new institution named NITI Aayog.
Though it has been defined in several ways yet for our purposes it means government’s arrangement regarding allocation of country’s labour, foreign exchange, raw materials and other resources between different branches of economy.
Planning commission was an institution in the govt of india , which formulated india's five year plan .It was formed in 1950 march 15 . Jawaharlal Nehru was made the head of the national planning committee.Authority for the creation of pkanning commission was not derived from the constitution of india , it is an arm for the central govt of india .It focused mainly in the development of agricultural sector.
functions are :
i) To make assessment in the material , capital and the human resources of india
ii) to formulate a plan for the most effective and balanced utilisation of resources
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