The era of five-year plans began in India with the establishment of _________.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. The Planning Commission.
The era of centrally planned economic development in India commenced with the establishment of the Planning Commission in 1950, which formulated and oversaw the implementation of the Five-Year Plans to guide the nation's growth. These plans aimed to strategically allocate resources and set development targets for various sectors of the Indian economy.
The NITI Aayog is a policy think tank of the Government of India that replaced the Planning Commission.
The Parliament is the supreme legislative body of India.
The Finance Commission is a constitutional body that determines the allocation of financial resources between the Union and the State governments.