Which one of the following statements is not correct in regard to the functions performed by the Planning Commission?

• A. It makes an assessment of the material, economic and human resources of the country.
• B. It makes recommendations to the President of India with regard to distribution of proceeds of taxes between the Union and the States.
• C. It formulates plans for the most effective and balanced utilisation of country's resources.
• D. It appraises from time to time the progress made in the execution of each stage of the plan and recommends adjustments in policy and measures which it deems necessary.