In 2015, the Planning Commission was replaced with the ___________.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. NITI Aayog.
- The Planning Commission was an institution in the Government of India, which formulated India's Five Year Plans, among other functions.
- It was later replaced by a new institution named NITI Aayog by Prime Minister Narendra Modi in his first Independence Day speech in 2014.
- The NITI Aayog (National Institution for Transforming India) serves as the apex public policy think tank of the Government of India, and the nodal agency tasked with catalyzing economic development and fostering cooperative federalism while moving away from bargaining federalism through the involvement of State Government of India in the economic policy making process using a bottom up approach.