NITI Aayog was established in January 2015, replacing the Planning Commission. Which of the following correctly identifies a key difference between NITI Aayog and the Planning Commission it replaced?

The Planning Commission, established in 1950, was vested with the authority to formulate five-year plans and, crucially, to allocate Plan funds to states and central ministries. This gave it enormous fiscal power in India's development process. NITI Aayog (National Institution for Transforming India), established on January 1, 2015, is a policy think tank and advisory body. A key distinction is that NITI Aayog does not have the power to allocate funds — that function now rests with the Finance Ministry and the Finance Commission. NITI Aayog focuses on strategic policy guidance, fostering cooperative federalism, monitoring implementation, promoting good governance, and facilitating technology-driven development. Both bodies are chaired by the Prime Minister.