Modi says central planning body to be disbanded
NEW DELHI (Reuters) - Prime Minister Narendra Modi said on Friday that he would replace the central Planning Commission that for decades guided the country's socialist economy with a more modern institution.
"The times have changed since the Planning Commission was created. In a short span of time we will initiative a new institution that will work in place of the Planning Commission," Modi said in his independence day address.
(Reporting by Sanjeev Miglani; Editing by Douglas Busvine)
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Data released on Friday showing a slowdown in India's economy will put the Reserve Bank under renewed pressure to cut interest rates, while Prime Minister Narendra Modi takes his time over reforms needed for a revival. Full Article