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Economic Affairs Planning in India

Practiced mainly in socialist economies, in this type of planning the Central Planning Authority decides upon every aspect of the economy. The targets as well as the processes to achieve them are strictly followed.

What is the name of this type of planning?

Indicative

Imperative

Core Plan

Rolling Plan

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Explanation:

Indicative planning is a form of economic planning implemented by a state in an effort to solve the problem of imperfect information in market and mixed economies in order to increase economic performance. ... Planning by inducement is often referred to as indicative planning .

An Imperative plan is characteristic of a socialist/communist economy in which the directions set by the state are strictly implemented and all the economic activities are bound by the plan.

Rolling Plan is that every year the performance of the plan will be assessed and a new plan will be made next year based upon this assessment.