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The Government of India established NITI Aayog to replace the Planning Commission.
NITI Aayog, which stands for National Institution for Transforming India, was established on January 1, 2015, as a policy think tank and a replacement for the Planning Commission. The Planning Commission, which was in operation since India`s independence, was responsible for formulating and implementing Five-Year Plans and guiding the country`s development strategies.
NITI Aayog functions as a policy advisory body that provides strategic and directional inputs to the central and state governments. It focuses on fostering cooperative federalism, promoting sustainable and balanced development, and enhancing the involvement of states in decision-making processes.
Therefore, the correct answer is "Planning Commission."