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Q.

The ____ commission was set up in 1950.


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Detailed Solution

The planning commission was set up in 1950.
Among the major goals of the new nation were to lift India and Indians out of poverty and to establish a modern technical and industrial base. In 1950, the government established the Planning Commission to assist in designing and implementing appropriate economic development policies. A "mixed economy" model was widely accepted. In this case, the public and private sectors would play critical and complementary roles in increasing output and creating jobs. The Planning Commission was to define these roles, including which the state should initiate industries and which by the market, as well as how to achieve a balance between different regions and states.
 
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The ____ commission was set up in 1950.