India PM replaces Soviet-style planning body, aiming to boost growth

January 1, 2015 3:36 PM

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India PM replaces Soviet-style planning body, aiming to boost growth

NEW DELHI (Reuters) - India has scrapped its 65-year-old Planning Commission, which Prime Minister Narendra Modi has accused of stifling growth with Soviet-style bureaucracy, replacing it on Thursday with a body he said would do more to involve the regions.

The new National Institution for Transforming India (NITI) will act more like a think tank or forum, say its supporters, in contrast with the Commission which imposed five-year-plans and allocated resources to hit set economic targets.

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