Which institution was established in 2015, in the place of Planning commission of India? 

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SSC GD Constable (2024) Official Paper (Held On: 20 Feb, 2024 Shift 1)
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  1. NABARD
  2. NITI Aayog
  3. RBI
  4. SEBI

Answer (Detailed Solution Below)

Option 2 : NITI Aayog
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The correct answer is NITI Aayog

Key Points

  • NITI Aayog was established in 2015, replacing the Planning Commission of India.
  • NITI Aayog stands for National Institution for Transforming India.
  • It was formed to promote cooperative federalism and to foster involvement and participation of the state governments in the economic policy-making process using a bottom-up approach.
  • The institution serves as a policy think tank for the Indian government and provides strategic and technical advice on a range of issues including economic policy and development priorities.

Additional Information

  • The Planning Commission of India was established in 1950 and was responsible for formulating India’s Five-Year Plans.
  • The primary objective of the Planning Commission was to ensure the balanced and effective allocation of resources and to promote economic development.
  • With the establishment of NITI Aayog, the focus shifted from a centralized planning approach to a more decentralized and inclusive model of development.
  • NITI Aayog is headed by the Prime Minister of India and comprises a governing council with Chief Ministers of all the states and Lieutenant Governors of Union Territories.
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