The Government of India has established NITI Aayog to replace the

NITI Aayog was established on January 1, 2015, to replace the Planning Commission, signaling a shift from a centralized, top-down planning model to a "bottom-up" approach rooted in cooperative federalism. The Finance Commission is the most tempting wrong option, but it remains a permanent constitutional body under Article 280 that functions alongside NITI Aayog rather than being replaced by it. This question tests the core concept of India’s institutional evolution and the transition in its economic planning and federal governance framework.