Which of the following institutions or agencies is responsible for preparing and supervising the Five Year Plans in India?

Reserve Bank of India

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Planning Commission of India

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Election Commission

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National Farmers Union

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Solution

The correct option is B Planning Commission of India
The Planning Commission is an institution which is responsible to formulate Five Year Plans. This is a non-statutory and non-constitutional body. Moreover, it formulates plans with the aim to achieve social and economic development. Furthermore, It is responsible for supervising Five Year Plans too.

Thus, the correct answer is B.

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