(3) The Planning Commission was set up on the 15th of March, 1950 through a Cabinet Resolution. Planning Commission had evolved over time from developing a highly centralised planning system towards indicative planning where Planning Commission concerns itself with the building of a long term strategic vision of the future and decide on priorities for the nation. The prime minister is the chairman of the planning commission. Planning Commission was replaced with NITI Aayog on 1 January 2015.