The new body, which will take the place of Soviet-era institution, will closely monitor all the centrally-sponsored schemes and make several ministries accountable in the Parliament on the basis of its report.

According to sources, the government is busy in giving finishing touches to the Monitoring and Accountability Commission. The number of employees of this new body is expected to be lesser than that of Planning Commission.

It will also keep a tab on the annual target of different ministries and present its report in the Parliament. This will ensure accountability of the ministries.

During his Independence Day speech on 15th August, Prime Minister Narendra Modi, speaking from the ramparts of Red Fort said that a new institute will soon replace Planning Commission.

He also said that the proposed institution should be able to meet demands and requirements of 21st century India and also underline the role of each and every state in this process.

However, the role of states is not yet clear in the proposed institution. On 19th August, Narendra Modi also sought suggestions from the people regarding the new body.

Besides, on the direction of Prime Minister’s Office (PMO), Planning Commission Secretary Sindhushri Khullar called a meeting of experts to discuss shape of new institution.

Planning Commission was founded in 1950 and it has drafted 12 Five-Year Plans so far. It is headed by the Prime Minister. The term of the 12th Five Year Plan is from FY 2012-13 to FY 2016-17.   

It needs to be mentioned here that the Planning Commission’s role has been criticized by several states in the recent times and one of the prominent leaders to express reservation is Tamil Nadu Chief Minister J Jayalalithaa, who questioned the credibility of the 64-year old body.

Besides, Modi himself in capacity of Gujarat Chief Minister sounded skeptical of the Planning Commission’s modus operandi.

Apart from that, Programme Evaluation Office also batted for scrapping of Planning Commission.

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