JAIIB | IE AND IFS | CASE STUDY ON PLANNING COMMISSION AND NITI AAYOG

The JAIIB exam, conducted by the Indian Institute of Banking and Finance (IIBF), is designed to impart foundational knowledge in the banking sector. India’s economic planning and financial system have progressed  remarkably since independence. One of the most notable changes in recent times has been the transformation of the Planning Commission into NITI Aayog in 2015. Planning Commission and NITI Aayog topics come under ‘IE’ & ‘IFS’ modules. This article on case study inquires into the historical role of the Planning Commission, the rationale behind its replacement with NITI Aayog, and the implications of this transition for India’s economic growth, financial inclusion, and policy planning.

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The Planning Commission was established in 1950 under Prime Minister Jawaharlal Nehru. It created and implemented Five-Year Plans to prioritize sectors like agriculture, industry, and infrastructure. Its key Roles and Functions are :

-Five-Year Plans

-Resource Allocation

-Regulation and Control

While the Planning Commission was crucial to India’s initial post-independence economic growth, it faced criticisms in later years, particularly as India’s economy began liberalizing in the 1990s. In 2015, the Planning Commission was replaced by NITI Aayog. This transition was part of Prime Minister Narendra Modi’s vision to reform India’s economic governance. For the extensive preparation of candidates, get details through our YouTube videos for JAIIB IE & IFS Module wise Syllabus with explanations and tips to help candidates in their preparation journey.

The Key Changes Introduced by NITI Aayog are:

1. Cooperative Federalism
2. Think Tank and Policy Advisory Role
3. Focus on Innovation and Digital Economy
4. Data-Driven Planning

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To sum up this article, the shift from the Planning Commission to NITI Aayog symbolizes India’s evolving approach to economic governance in a globalized and market-driven world. NITI Aayog has introduced a more flexible and innovation-led model of planning that better fits the aspirations of a modern, diverse nation like India. By joining our course at Learning Sessions, you will receive access to up-to-date study materials, interactive sessions and practice tests designed to boost your confidence and exam preparation. Learning Sessions provides additional information about JAIIB IE & IFS MANAGEMENT OF MUTUAL FUND  by giving examples of real life scenarios.

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