The meeting which was held on Sunday here witnessed a concensus that  more power and planning should be devolved to states. However, the Chief Ministers of the Congress-ruled states has opposed the NDA Government's move to abolish the decade long Plan body.

Modi has announced the abolition of Soviet-style central influnced Planning Commission from the ramparts of the Red Fort during his maiden Independence Day speech.

The Planning Commission is an institution which formulates Five-Year Plans, among other functions. It was established in accordance with Article 39 of the constitution which is a part of Directive Principles of State policy.

Modi was with Chief Ministers for nearly seven hours at his residence deliberating on what should be the future shape of the body.
    
During the meeting, PM Modi, in a bid to convince Congress ruled states, even cited his predecessor Manmohan Singh, saying he too had said on April 30 this year that the current structure has "no futuristic vision in the post-reform period".



Except Chief Ministers of West Bengal, Mizoram and poll-bound Jammu and Kashmir and Jharkhand, CMs from all other states attended the meeting where Finance Minister Arun Jaitley and Home Minister Rajnath Singh were also present.
     
Briefing the media, Jaitley later said there was a "larger consensus" that the "context" has changed and there is a "need to decentralise both power and planning".

Noting that "there cannot be a universal scheme that suits all states," he said "it is a fallacy that one size fits all in case of implementation of central schemes".
     
The strategy should be to empower the states to enable them to meet their own specific needs, he said.
     
He gave no timeline about when the new body will be announced, saying the Centre will take a "considered view after consultations are over.

Read More: Congress slams PM's move to revamp plan panel

However, there were indications that the shape of the new structure, which could also see the involvement of the private sector, may be firmed up by January 26 next year.
     
Congress Chief Ministers on Sunday opposed the government's move to replace Planning Commission with a new body while some other non-Bharatiya Janata Party Chief Ministers left the issue to the government.

West Bengal Chief Minister Mamata Banerjee, who did not attend the meeting convened by Prime Minister Narendra Modi on the issue here, wrote a letter to him saying that instead of setting up a new body, the planning task should be given to the Inter-State Council.

She urged him not to "dilute the autonomy of the states" but to protect and strengthen the nation's federal character.

Odisha Chief Minister Naveen Patnaik, who also heads the Biju Janata Dal, said he left it to the "wisdom of the Central government and to the Prime Minister to frame the structure and processes of the new planning institutional set-up".

"Our stand is that it should ensure just, fair and equitable resource allocation and respect the principles of federal polity," he said.

Kerala Chief Minister Oommen Chandy of the Congress said the Commission has over the years been instrumental in promoting decentralised planning and the Central government's "arbitrary decision" to dismantle it without convening a meeting of the NDC or consulting the states "undermines the federal structure".

Himachal Pradesh Chief Minister Virbhadra Singh said the Commission in its present form should be strengthened by giving it additional functions so as to meet aspirations of the states.

Uttar Pradesh Chief Minister Akhilesh Yadav said the states and the Central government should have equal participation in a new body to replace the panel, while his Tamil Nadu counterpart O Panneerselvam sought Chief Ministers' representation in the new body, which should prepare sector-wise strategic vision documents specifying the medium- and long-term perspective.

Latest News from India News Desk