Q.Write about Planning Commission.

The Planning Commission, set up in 1950 with the PM as chairman, assessed national resources, formulated and implemented the Five Year Plans, fixed priorities and allocated resources, and reviewed progress. It was replaced by NITI Aayog on 1 January 2015.

This 5-mark question in AP Intermediate 2nd year Economics belongs to the planning theme, treated in line with the NCERT/CBSE curriculum on Indian economic development.

About the Planning Commission:

1. Establishment. The Planning Commission was constituted by a resolution of the Government of India in March 1950. It was not a constitutional or statutory body but an advisory one.

2. Composition. The Prime Minister was its ex-officio chairman; it had a deputy chairman and members who were experts.

3. Functions.

• To make an assessment of the material, capital and human resources of the country.
• To formulate the Five Year Plans for the balanced and effective use of these resources.
• To determine priorities and allocate resources among different sectors, programmes and states.
• To indicate the factors retarding development and suggest measures.
• To review the progress of the plans and recommend adjustments. …