Explanations:The Planning Commission was a key institution in India that was established in 1950 to formulate national development strategies and to ensure the balanced growth of the country. It played a significant role in the economic planning and development of India during the first few decades after independence. However, over time, the Planning Commission faced criticism for its centralized approach and its inability to adapt to the changing economic landscape of the country.
In 2015, the Government of India decided to replace the Planning Commission with a new institution called NITI Aayog, which stands for National Institution for Transforming India. The primary reason for this change was to shift from a top-down, centralized planning approach to a more flexible, cooperative federalism model. NITI Aayog was designed to be a think tank that would provide strategic and technical advice to the central and state governments, promote cooperative federalism, and ensure the balanced development of the country.
The establishment of NITI Aayog marked a significant shift in the way India approached its development planning. While the Planning Commission was responsible for creating five-year plans and allocating resources, NITI Aayog was tasked with fostering a more collaborative environment between the central and state governments. It aimed to leverage the strengths of each state and to create a more dynamic and responsive development framework.
Therefore, the statement that the Planning Commission was replaced by NITI Aayog is true. This change reflects the evolving nature of governance and development strategies in India, moving towards a more decentralized and cooperative approach to national development.