On 15th August Narendra Modi, from the Red Fort, announced that he is going to do away with the old Soviet style central planning model so he will replace the Indian Planning Commission with some other new Institution. Many people and Modi himself is saying that this replacement institution is a move in the direction of Free Market economy! Is it so? He also launched his ambitious Jan Dhan Yojana. In my latest economic report I analyze Narendra Modi's latest policy moves.