PM Modi indicates creation of a new body to replace Planning Commission
During his speech on Independence Day, Prime Minister Narendra Modi announced a radical measure to replace the Planning Commission with a new body in a short span of time. Mr. Modi said the new institution would foster cooperative federalism, facilitate Public-Private Partnership (PPP) and help tackle the new economic challenges the faced by country in a much better way.
Mr. Modi said that the times have changed since the Planning Commission was established. He said that the new body will foster greater engagement of states in charting the country’s growth path through “cooperative federalism”.
The Planning Commission was set up in 1950 during the regime of Prime Minister Jawaharlal Nehru, who was the first chairman of the Planning Commission.
Indicating his plan to do away with the old institution and create a new one, Modi said, “Sometimes it costs more to repair the old house, but, it gives us no satisfaction. Thereafter, we have a feeling that it would be better to construct a new house altogether”.