Question
Download Solution PDFWhich of the following events happened in 1950?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- The Planning Commission was set up in India in the year 1950.
- The Planning Commission was an institution in the Government of India, which formulated India's Five-Year Plans, among other functions.
- Its primary task was to oversee the entire process of planning, development, and resource allocation in the country.
- It played a crucial role in the economic development and modernization of India during its operational period.
Additional Information
- The Planning Commission was established by a resolution of the Government of India in March 1950.
- It was chaired by the Prime Minister and included various experts and officials as its members.
- The Commission was dissolved in 2014 and replaced by the NITI Aayog (National Institution for Transforming India), which serves a similar advisory role but with a different structure and mandate.
- The Planning Commission's establishment marked a significant step in India's efforts towards planned economic development post-independence.
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