Union Finance Minister Arun Jaitley on Sunday said that the role of the Planning Commission must be relooked in order to expand economic activity, adding that the new body, which will replace the existing commission, will aim towards cooperative federalism.
"Prime Minister Narendra Modi believes that the process of policy planning has to now change from 'top to bottom' to 'bottom to top'. In order to expand economic activity and to make sure that we play an important role, the role of Planning Commission has to be relooked at," Jaitley told the media.
"The thrust of the new model would be cooperative federalism. Both state and private sector would have an important role and the role, relevance and restructuring has to be looked at afresh," he added.
The Union Minister further stated the need to have a holistic approach to address the issues of each state.
"The requirements of each state are different. A 'one-size-fits-all' approach will not work. There is a need to decentralize both power and planning, states have to be strengthened. There can't be a universal scheme which applies to all states," said Jaitley.
"Requirements of each state are different. Some participants felt whether the current Planning Commission could evolve into the desired structure. Most Chief Ministers favoured an alternative structure where the Centre, the states and experts could participate," he added.
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Jaitley also stated that the meeting was attended by all the Chief Ministers except for West Bengal and Mizoram, which were represented by their Finance Ministers. Jharkhand and Jammu and Kashmir, which are currently in the midst of their five-phase state assembly elections, were represented by senior officials.
"The meeting was attended by all states and Union Territories. Most Chief Ministers were present. However, the Chief Ministers of West Bengal and Mizoram were represented by their Finance Ministers and the two poll-going states were represented by senior officials," he said.
Earlier today, Prime Minister Modi and Union Home Minister Rajnath Singh met Chief Ministers to discuss various aspects relating to restructuring of the Planning Commission.
The Prime Minister sought views of the Chief Ministers regarding the structure, scope and role of the new body that will replace the Planning Commission.