CA Foundation · Business Economics · Indian Economy
The NITI Aayog replaced which earlier body in 2015 as the government's premier policy think tank?
NITI Aayog replaced the Planning Commission in 2015. The Planning Commission followed a top-down model of Five-Year Plans, while NITI Aayog works as an advisory think tank that encourages cooperative federalism with states. The Finance Commission continues separately as a constitutional body.
- AFinance Commission
- BPlanning CommissionCorrect
- CNational Development Council
- DReserve Bank of India
Explanation
NITI Aayog was set up on 1 January 2015 to replace the Planning Commission, which had drawn up Five-Year Plans in a centralised manner. NITI Aayog instead promotes cooperative federalism and acts as an advisory body. The Finance Commission is a constitutional body for fiscal devolution and was not replaced.
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