A Critical Review of Planning Commission for Setting-up a New Institution to Pack Hope of People for Developed Economy

Background: This paper discusses about the planning commission and its scrap. It attempts some facts, aspects of planning commission of India for that firstly, it discusses about the role, and its achievements; secondly, it identifies the challenges, and finally it identifies the relationships of planned and actual growth of economy.

Method: The study conducted through the secondary data of publications and reports of planning commission. Researcher compare planned growth rate with actual growth rate for reveals gaps. Chi-square test and Pearson correlation (2-tailed) has used for the data analysis.

Results: From the analysis, planning commission mustered failure in each plan to estimate growth rate of economy. Policymakers have failed to figure growth rate and control actual growth with their planned rate. Many factors and aspects influenced its functioning. The study also relates expected growth rate with the actual rate of GDP in five years plans.

Conclusion: Present planning commission and its functioning are not helpful in economic and structural development of nation. In this view, this paper spins hope of people with new commission, challenges ahead and suggests some remedies&ideas for setting-up a new institution for planning.