- The Planning Commission was set up in March 1950.
- It was the premier body for policymaking and governance.
- Role:
- Assess country’s material, capital, and human resources.
- Devise plans for effective and balanced resource utilization.
- Define stages of plan implementation and allocate resources.
- Specify factors retarding economic development.
- Determine conditions for triumphant plan execution.
- Evaluate progress and recommend policy adjustments.
- Recommend funds for various developmental expenditures and schemes.