The Planning Commission was set up by the Government of India in the year:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 1950
- The Planning Commission was set up on 15 March 1950 by a cabinet resolution as an extra-constitutional and non-statutory body which would function as the premier 'tink tank' and advisory body to the Government of India on the issues of economic development.
- The Planning Commission along with the National Development Council started the first Five Year Plan in 1951–1956.
- The Planning Commission was abolished on 1st January, 2015 and replaced with NITI Aayog.