The 1950 resolution setting up the Planning Commission outlined its function as to:
make an assessment of the material capital and human resources of the country, including technical personnel, and investigate the possibilities of the augmenting such of these resources as are founded to be deficient to the relation to the nation's requirement.
Formulate a plan for the most effective balanced utilization of the country's resources.
On the determination of priorities define the stages in which the plan should be carried out and propose the allocation of resources for the due completion of each stage.
Indicate the factors which are tending to retard economic development and determine the conditions which in view of the current social and political situation, should be established for the successful execution of the plan;
Determine the nature of the machinery which will be necessary for securing the successful implementation of each stage of the plan.
Appraise from time to time the progress achieved in the execution of each of the plan and recommend the adjustments of policy and measurer that such appraisal may show to be necessary and make such interim ancillary recommendations as appear it to be appropriate either for facilitating the duties assigned to it.
