The Modi-led Government has scrapped the 65-year-old Planning Commission, and has replaced it with a body, National Institution for Transforming India (NITI). The Planning Commission was set up in 1950 by India’s first prime minister Jawaharlal Nehru.
The government claimed that the body will act more like a think tank or forum. The commission was widely blamed for the recent economic slowdown. It survived the market reforms of the early 1990s.
Prime Minister Modi said that NITI would replace the old one-size-fits-all approach with a "pro-people, pro-active & participative development agenda". NITI will include leaders of 29 states and seven union territories. But its deputy chairman, chief executive and experts will answer directly to the 64-year-old prime minister.
Congress leaders, however, mocked the launch as a ‘cosmetic relabelling exercise’.