The latest news suggests that government is planning to have 8-member panel in the newly proposed institution replacing 64-year old Planning commission. The think-tank will include economists and representatives from the social sector, business sector as well as from academic fields. It will also have government representations.

Earlier this week Prime Minister Narendra Modi had sought suggestions from the public on shaping the new panel.

In his Independence Day speech the prime minister had announced the enging of the planning commission.

“I am saying from the ramparts of the Red Fort that it is a very old system and it will have to be rejuvenated, it will have to be changed a lot. Sometimes it costs more to repair the old house, but it gives us no satisfaction, “Modi said, adding, “Thereafter, we have a feeling that it would be better to construct a new house altogether and therefore within a short period, we will replace the Planning Commission with a new institution.”

He said that the new panel would be a “new body with a new soul and new thinking”.

The government is likely to announce the new panel very soon.

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