Question

Explain the concept of economic planning. When and why the niti aayog was set up in place of the planning commission

Answer 1

Planning Commissionwith the newly formed NITI Aayog (National Institution for Transforming India). The Union Government of India announced the formation of NITI Aayog on 1 January 2015. 

The Planning Commission was set up by a Resolution of the Government of India in March 1950 in pursuance of declared objectives of the Government to promote a rapid rise in the standard of living of the people by efficient exploitation of the resources of the country, increasing production and offering opportunities

Answer 2

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HERE IS UR ANSWER

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economic planning is described as the planning for the economic development of a country