Officials said the prime minister would first meet the chief ministers, along with their officials, in the morning. A separate session will follow, in which Modi would meet only the chief ministers.
The meetings are part of the government effort to build a broad consensus on the shape of the new body that will replace the commission.
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"Letters are being dispatched to the chief ministers inviting them for the crucial meeting," a senior official said.
The new body - likely to be called Neeti Aayog - is expected to comprise the office of Direct Benefit Transfer, Unique Identification Authority of India, the inter-state councils and Programme Evaluation. Each of the four departments will be headed by a secretary-level officer.
Modi, in his maiden Independence Day speech, had announced the winding up of the five-decade old Planning Commission, replacing it with a new body. The government held a series of meetings with experts and analysts on its shape.
In between, the role and functions of the commission was gradually reduced. Its financial might was clipped through a recent circular which directed all major ministries and departments to furnish their Plan Budget estimates for 2015-16 directly to it.
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