Question
When was the Planning Commission of India established?
Answer (Detailed Solution Below)
Option 4: 1950
Detailed Solution
The correct answer is 1950.
The Planning Commission was an apex body established by a Government of India resolution in 1950, under the chairmanship of Prime Minister Jawaharlal Nehru. It was a non-constitutional and non-statutory body. Its purpose was to guide India’s economic development through structured Five-Year Plans. Its responsibilities included:
- Assessing national resources (natural, financial, and human).
- Formulating plans and setting developmental priorities.
- Allocating resources for different sectors and ministries.
- Monitoring plan implementation and making mid-course corrections.
- Advising the government on policy matters concerning development.
- In essence, the Commission worked as the chief architect of India’s post-independence economic strategy.
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