Which of the following statement is correct about 'The Planning Commission of India'?

A- The Planning Commission was set up in March 1950 by a simple resolution of the Government of India.
B- The Finance Minister was the Chairperson of the Planning Commission of India.
C- Its recommendations became effective only when the President alone approves approved them.
D- The Government of India replaced the Planning Commission with a new institution named NITI Aayog on 1 January 2015.

Choose the correct answer from the given options:

A and D

The correct answer is Option 3 - A and D

The correct statements are:

A- The Planning Commission was set up in March 1950 by a simple resolution of the Government of India.
D- The Government of India replaced the Planning Commission with a new institution named NITI Aayog on 1 January 2015.

Correction in the incorrect statement:

B- The Prime Minister, not the Finance Minister was the Chairperson of the Planning Commission of India.
C- Its recommendations became effective only when the Union Cabinet, not the President alone approves approved them.

More about the Planning Commission:

The Planning Commission was set up in March 1950 by a simple resolution of the Government of India.
The Prime Minister was its Chairperson.
It became the most influential & central machinery for deciding what path & strategy India would adopt for its development.
It had an advisory role and its recommendations became effective only when the Union Cabinet approved these.
The Government of India replaced the Planning Commission with a new institution named NITI Aayog.
NITI Aayog stands for National Institution for Transforming India.
The NITI Aayog came into existence on 1 January 2015.