Correct Option: C

The Planning Commission is an institution in the Government of India, which formulates India’s FiveYear Plans, among other functions. It was set up on 15 March 1950, with Prime Minister Jawaharlal Nehru as the chairman. Planning Commission though is a non statutory as well extra constitutional body, i.e. has been brought by an executive order. The Planning Commission does not derive its creation from either the Constitution or statute, but is an arm of the Central/Union Government.