CURRENT AFFAIRS

Detailed explanation-1: -On 1 January 2015, a Cabinet resolution was passed to replace the Planning Commission with the newly formed NITI Aayog (National Institution for Transforming India).

Detailed explanation-2: -Ans. Niti Aayog was set up on 1st January 2015 after the announcement made by Narendra Modi the Prime Minister of India, the motive behind setting up NITI Aayog was to have a body that can provide proper and critical strategies and directions in which the development process can take place.

Detailed explanation-3: -The Planning Commission has been replaced with the NITI Aayog or National Institution for Transforming India in 2014. Q. Which of the following has been declared by the Planning Commission of India to be the primary and most crucial role of the central bank?

Detailed explanation-4: -In his first Independence Day speech in 2014, Prime Minister Narendra Modi announced his intention to dissolve the Planning Commission. It has since been replaced by a new institution named NITI Aayog.

Detailed explanation-5: -NDC (National Development Council) has been proposed to be abolished. But till date no resolution has been passed to abolish it. Since the inception of NITI Aayog’s Governing Council (which has almost the same composition and roles as NDC), the NDC has had no work assigned to it nor did it have any meetings.