In which of the following years was the Planning Commission set up in India?

The Planning Commission of India was established on March 15, 1950, through a simple resolution passed by the Government of India [2]. It was created as an extra-constitutional and non-statutory body to serve an advisory role in formulating India's Five-Year Plans [1]. The commission's primary mandate was to assess the country's resources, augment deficient ones, and draft plans for the most effective and balanced utilization of these resources to raise the living standards of citizens [5]. Jawaharlal Nehru served as its first Chairman. Although it played a central role in India's economic policy for decades, it was eventually dissolved in August 2014 and replaced by the NITI Aayog in 2015 [2]. The first Five-Year Plan following its establishment covered the period from 1951 to 1956 [5].

Sources

1. [1] Politics in India since Independence, Textbook in political science for Class XII (NCERT 2025 ed.) > Chapter 3: Politics of Planned Development > Planning Commission > p. 48
2. [2] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 6: Indian Economy [1947 – 2014] > 6.6 Planning Commission and Five Year Plans > p. 222
3. [5] https://en.wikipedia.org/wiki/Planning_Commission_(India)
4. [4] https://www.mospi.gov.in/sites/default/files/Statistical_year_book_india_chapters/ch7.pdf