Planning Commission May Become 8-Member Think Tank, First Task Decided

New Delhi: A lean eight-member think-tank may replace the Planning Commission and it will include top economists, a social activist and a scientist, sources have told NDTV.

Prime Minister Narendra Modi may meet his predecessor Manmohan Singh before a new look planning commission is announced in 15-20 days, sources say.

The think-tank is likely to have a chairman and seven members. Four of these members will be permanent.

The rest of the old panel, sources say, will be absorbed into government departments.

The new-look commission has its first task cut out; the government has decided to forward the issues regarding royalty and pricing of minerals, and whether they should be auctioned.

The Prime Minister had announced the end of the Planning Commission in his Independence Day speech last Friday.

Earlier this week, he invited people's feedback on what next. "Inviting you to share your ideas on what shape the new Institution to replace the Planning Commission can take," he tweeted.

Those who want to share their ideas have been asked to log on to MyGov, an interactive website, till the 25th of this month to submit a "Name, Logo and Tagline for this new Institution". The website promises "attractive prizes" for the winning entry that will be acknowledged by the PM on social media.

India's first Prime Minister Jawaharlal Nehru set up and chaired the Planning Commission in 1950 to map out a development path for the country's agrarian economy.

But on Friday, PM Modi, who took charge in May, said it's all over for the vestige of India's early attempt to mimic the Soviet command economy.

"Times have changed since the Planning Commission was created," he said.

Mr Modi never had a high opinion of the Planning Commission - while he was Gujarat Chief Minister, he stunned the panel last year by turning up at a meeting with a video that accused it of high-handedness.

This June, a government-backed report suggested replacing the Planning Commission with a think-tank more in line with a US-style Council of Economic Advisers.