Identify the incorrect statement with reference to planning commission : (A) The President is the Chairperson of the Planning Commission (B) The Planning commission was set up in March 1950 (C) The concept of five year plan was adopted from USA (D) A section of big industrialist get together in 1944 and drafted a joint proposal called 'Bombay Plan' (E) The draft of the first five year plan was released in December 1951 Choose the correct answer from the options given below: