Which body is responsible for planning and executing economic policies in India?
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A.
Planning Commission (replaced by NITI Aayog)
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B.
Finance Commission
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C.
Election Commission
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D.
UPSC
Correct Answer:
A. Planning Commission (replaced by NITI Aayog)
Explanation:
The Planning Commission, established in 1950, was the primary body responsible for formulating India's Five-Year Plans and overseeing economic policy and resource allocation. In 2015, the Government of India replaced the Planning Commission with NITI Aayog (National Institution for Transforming India). NITI Aayog serves as a policy think tank that provides strategic and technical advice to the government while fostering cooperative federalism by involving state governments in the economic decision-making process. Other bodies like the Finance Commission manage fiscal relations between the Union and States, while the Election Commission and UPSC handle elections and civil service recruitment, respectively. Therefore, the Planning Commission (now NITI Aayog) is the correct authority for economic policy execution.
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