Why was Five Year plan ended by the NDA government? Describe the rationale presented to discontinue Planning Commission & replace it with Niti Aayog.
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Explanation:
A key component of the Nehruvian socialism—the economic approach adopted by India's first Prime Minister Jawaharlal Nehru—the Five-Year Plans have been laid to rest by the Narendra Modi-led NDA government. The 12th Plan, the last of the Five-Year Plans, is coming to an end on March 31, though it has been given an extension of six months to allow ministries to complete their appraisals.
The decades-old Five-Year Plans will make way for a three-year action plan, which will be part of a seven-year strategy paper and a 15-year vision document.
The Niti Aayog, which has replaced the Planning Commission, is launching a three-year action plan from April 1.
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