✅ Answer: B) March 15, 1950The Planning Commission was established on March 15, 1950 by a Cabinet Resolution. It was NOT established by an Act of Parliament or by the Constitution — it was an extra-constitutional body created by executive order.

✅ Answer: B) National Institution for Transforming IndiaNITI Aayog = National Institution for Transforming India. It was established on January 1, 2015 to replace the Planning Commission. “Niti” also means “policy” in Sanskrit.

✅ Answer: B) Second Five Year Plan (1956-61)The Second Five Year Plan (1956-61) was based on the Nehru-Mahalanobis model, which emphasised heavy industries. Steel plants were set up at Bhilai (with Soviet help), Durgapur (with British help), and Rourkela (with German help).

✅ Answer: B) August 1952The National Development Council (NDC) was established on August 6, 1952. It was the apex body for planning, above the Planning Commission. It approved Five Year Plans and included the PM, all Chief Ministers, and Planning Commission members.

✅ Answer: C) 12th Five Year Plan (2012-17)The 12th Five Year Plan (2012-17) was the last Five Year Plan. After NITI Aayog replaced the Planning Commission in 2015, no new Five Year Plans were made. NITI Aayog prepares Vision Documents (15-year) instead.

✅ Answer: B)The key difference is that NITI Aayog does NOT allocate funds to states — it is only an advisory body. The Planning Commission used to allocate plan funds to states, which gave it enormous power. Fund allocation is now done by the Finance Ministry and Finance Commission.

✅ Answer: B)Plan Holidays were periods when no Five Year Plan was in operation. India had two Plan Holidays: (1) 1966-69 — due to wars with China (1962) and Pakistan (1965), and drought; (2) 1979-80 — due to political instability. During these periods, Annual Plans were implemented.

✅ Answer: C) Article 280The Finance Commission is established under Article 280 of the Constitution. It is a constitutional body set up every 5 years by the President. It recommends the distribution of tax revenues between the Centre and States.

✅ Answer: B) NITI AayogThe Aspirational Districts Programme is a key initiative of NITI Aayog. It focuses on 112 most backward districts across India for rapid development in areas like health, education, agriculture, and infrastructure. The programme was launched in January 2018.

✅ Answer: C) Budget 2017-18The distinction between Plan and Non-Plan expenditure was abolished from Budget 2017-18. Now the budget only distinguishes between Capital Expenditure (creates assets) and Revenue Expenditure (routine spending). This was recommended by the Rangarajan Committee.