The Planning Commission of India was established in 1950 to formulate and oversee the country's economic development plans. Its primary objective was to promote balanced growth across various sectors and regions, ensuring that resources were allocated efficiently. The commission played a crucial role in drafting five-year plans that outlined the nation's economic goals and strategies. In 2015, the Planning Commission was replaced by the NITI Aayog (National Institution for Transforming India), which focuses on cooperative federalism and sustainable development. The new body aims to foster collaboration between the central and state governments, promoting innovative solutions to address India's diverse challenges.