"The 1950 resolution (by which Planning Commission was created) will be replaced...Nitty gritty of the new resolution is under consideration," Minister of State for Planning Rao Inderjit Singh said replying to questions.
"It will take a while", he said about the new resolution which is to be adopted by the Cabinet for setting up the new institution.
Consultations for setting up the new institution have been initiated and public comments have been sought, he added.
"Planning Commission is doing all works mandated (by the 1950 resolution)," he said.
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He also said that an exercise for undertaking the mid-term appraisal of the 12th Five Year Plan has been internally initiated in the Commission at official level.
In his first Independence Day address this year, Prime Minister Narendra Modi had announced the Commission, a 64-year old apex policy making body, would be abolished and replaced with a new institution to address the emerging economic needs and strengthen federal structure.
The Planning Commission, in its deliberation early this year, had recommended that the mid-term appraisal of the 12th Plan would be undertaken along selected themes.
Accordingly, the Minister said suitable themes along wich such appraisal should take place been identified.