CA Foundation · Business Economics · Indian Economy
Which of the following statements about the Twelfth Five Year Plan (2012-17) and the end of formal Five Year Planning in India is correct?
The Twelfth Plan (2012-17) was the last formal Five Year Plan, and the Planning Commission was replaced by NITI Aayog in 2015. NITI Aayog works as a policy think tank and does not draw up Five Year Plans, so no Thirteenth Plan exists.
- AThe Twelfth Plan was the last Five Year Plan, and the Planning Commission was replaced by NITI Aayog in 2015Correct
- BThe Twelfth Plan was followed by a Thirteenth Plan prepared by NITI Aayog
- CThe Planning Commission continues to prepare Five Year Plans alongside NITI Aayog
- DThe Twelfth Plan was terminated in 2012 when economic reforms were introduced
Explanation
The Twelfth Plan (2012-17) was the last formal Five Year Plan. The Planning Commission was replaced by NITI Aayog in January 2015, which does not prepare Five Year Plans. The claim of a Thirteenth Plan is therefore wrong.
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