What was the role of the Planning Commission?

The government set up the Planning Commission in 1850 for economic development of the country. The main role of the Planning Commission was to Prepare a Plan for the ‘most effective and balanced utilization of the country’s resources’. It has to formulate policies which would guide the economic development. Productivity and employment opportunities were to be increased through proper implementation of those policies and decide – which industries should be initiated by the state and which by the market, how to achieve a balance between the different regions and states.