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Difficulty: HardEconomic Planning History, NITI Aayog, and Structural Reforms

Arrange the following key policy initiatives and institutional developments in the history of Indian economic planning and structural reforms in correct chronological sequence (from earliest to latest):

  1. 1Setting up of the Mahalanobis Committee on Distribution of Income and Levels of Living
  2. 2Enactment of the Monopolies and Restrictive Trade Practices (MRTP) Act
  3. 3Enactment of the Fiscal Responsibility and Budget Management (FRBM) Act
  4. 4Formal conclusion of the Five-Year Plan framework and rollout of NITI Aayog's 3-Year Action Agenda

Answer

The correct chronological sequence is: (1) Setting up of the Mahalanobis Committee (1960), (2) Enactment of the MRTP Act (1969), (3) Enactment of the FRBM Act (2003), and (4) Formal conclusion of the Five-Year Plan framework and rollout of NITI Aayog's 3-Year Action Agenda (2017).
The correct chronological timeline is: Setting up of the Mahalanobis Committee (1960) -> Enactment of the MRTP Act (1969) -> Enactment of the FRBM Act (2003) -> Conclusion of Five-Year Plans and launch of NITI Aayog's 3-Year Action Agenda (2017).

Step-by-Step Solution

1
Determine the date of the Mahalanobis Committee constitution
The Committee on Distribution of Income and Levels of Living, chaired by Prof. P.C. Mahalanobis, was appointed by the Planning Commission in October 1960.
This establishes the earliest policy milestone among the options.
2
Determine the enactment year of the MRTP Act
The Monopolies and Restrictive Trade Practices (MRTP) Act was passed by Parliament in 1969 and came into force in 1970.
This marks the second milestone during the phase of state command and regulation.
3
Determine the enactment year of the FRBM Act
The Fiscal Responsibility and Budget Management (FRBM) Bill was passed by Parliament and received presidential assent in August 2003.
This marks the third milestone as part of second-generation post-1991 fiscal reforms.
4
Determine the transition year from Five-Year Plans to NITI Aayog's Action Agenda
Although NITI Aayog was formed on January 1, 2015, the 12th Five-Year Plan (2012–2017) was allowed to complete its tenure until March 31, 2017. NITI Aayog's 3-Year Action Agenda (2017–18 to 2019–20) formally replaced the Five-Year Plan framework starting April 1, 2017.
This represents the latest structural transition in Indian planning methodology.

Key Concept

Chronological evolution of Indian economic planning frameworks, regulatory statutes, and structural policy instruments.
Estimated Time:2m 0s
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Topics

Economic Planning History, NITI Aayog, and Structural Reforms