Chandy reserved his comments on Prime Minister Narendra Modi's proposal to replace Planning Commission with a new institution when the question was put to him during media briefing on the state cabinet meeting.
"Let us see what the new system is. After knowing it, I will react," Chandy said here.
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He, however, said the Planning Commission had played a vital role in the development of the country though "I myself had pointed out certain deficiencies in its functioning.".
For instance, Kerala had demanded modifications in the guidelines for the implementation of centrally-sponsored schemes, he said.