Solution

After achieving independence in 1947, India was faced with the task of reviving the poor, backward state in which the colonial government had left India. Efforts were made to solve people’s problems through a democratic government. A country is said to be on the path of development when there is economic prosperity. To attain that prosperity, Planning Commission was setup in 1950 for establishing development framework for the nation where both public and private sectors would contribute towards the economic development.