Emphasising on the need of NITI Aayog, the finance minister said, the suitability /utility of the 65-years old Planning Commission has ended. Its utility existed under the government- controlled economy, but it is no longer relevant in the present time. India is a diversified economy and its Various states are in different phases of economic development. All these states have their own strengths and weaknesses. In this context, there is no relevance for an economic organisation with a similar outlook. If we retain this type of system, India won’t be able to achieve competetive quality at the global level.”
