Financial powers gone, Planning Commission stares at shutdown

June 21, 2014 09:27

A television monitor in the lobby of the Planning Commission which used to run the schedule of meetings planned for the day when Montek Singh Ahluwalia was Deputy Chairman, now displays Thoughts for the Day.

Ahluwalia has resigned, and for the first time since the Planning Commission was set up in 1950, it will not decide on the gross budgetary support for the Railways.

Instead, the Finance Ministry has scheduled a meeting later this month to decide the Plan budget for the Railway Ministry.

The moving of financial powers out of Yojana Bhawan formalises the end of the role of the Commission, and marks the biggest change in the Indian fiscal space in decades.

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