Correct Answer: (b) It has a full-time Chairman.
Solution:Planning Commission was set up on 15th March, 1950 through a Cabinet Resolution and it was replaced by NITI Aayog through another such resolution on 1 January, 2015. NITI Aayog has been constituted to actualize the important goal of Cooperative Federalism and to enable good governance in India to build a strong Nation State. It has not a full-time Chairman. It has a full-time Vice Chairman instead and the Prime Minister is the ex-officio Chairperson of NITI Aayog. The Governing Council of NITI Aayog comprises the Prime Minister; Chief Ministers of all the States and Union Territories with Legislature; Lt. Governors of other Union Territories; Ex-Officio Members, Vice Chairman, NITI Aayog: Full-Time Members, NITI Aayog; and Special Invitees.