Scrapping of Planning Commission

The Planning Commission was setup by the Central Government in March 1950.The objective of the Commission was to Promote rapid transformation of Indian Economy and a speedy improvement of the standard of living of people.It was . Mandated to do do so through 5 year Plans .The formulation of thePlans & their execution were not supposed to be Technocratic Exercises and the mandate included the outlining of larger Socio-Political Context.The first four Plans went well.Later in 1970 Therecwere criticisms from various sources.The chairman of the commission is the Prime Minister.Cabinet colleagues are not members.This perhaps defect of the commission as the PM has sole discretions in all matters. Any how,the present Economical conditions in the country seems to be Stable.Perhaps,this Stable nature is thatmakes the PM to announce all daring policies. What is yet to happen is to be very closely watched& waited.Anything can happen if a wrong policy is implemented .About Planning Commission it is controversial to take any drastic division. SreedharanMundanat 17th August 2014 08-12 AM(IST)