What is Planning Commission?

  • The Planning Commission is an institution in the Government of India, which formulates India's Five-Year Plans, among other functions.
  • Rudimentary economic planning, deriving the sovereign authority of the state, first initiated in India in 1938 by Netaji Subhash Chandra Bose.
  • Industrialists and economists independently formulated at least three development plans in 1944.
  • The first Five-year Plan was launched in 1951 which mainly focused in development of agricultural sector and two subsequent five-year plans were formulated till 1965, when there was a break because of the Indo-Pakistan Conflict.