Consider the following Statements:
- Indicative Planning is a feature of ‘Mixed Economy’.
- Perspective Planning is used by socialist countries where each and every aspect of planning is controlled by the State.
Which of the above Statement(s) is/are correct?
[A] Only 1
[B] Only 2
[C] Both 1 and 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: A [Only 1]
Notes:
Indicative planning, which generally puts forward some broad principles and guidelines to achieve some specific goals. Indicative planning is flexible. It is peculiar to mixed economy and both the public and private sector co exist.
Comprehensive or imperative planning is used by socialist countries and each and every aspect of planning is controlled by the State. Perspective planning refers to long term planning for a period of 15, 20, 25 yrs, however objective of perspective planning can be achieved by breaking the period in 5‐7 yr plans.
