Development Planning can be defined as a systematic or carefully formulated course of actions/policies designed to achieve the developmental goals of society.
Types of Planning
Planning can be classified either accordin g to its focus or according to its time frame. Here are a few examples.
Long-term plan: This is technically known as perspective plan. This plan takes a long range view of-the economy and can cover a period of 10-20 years.
Medium-term plan: This ranges from annual plans to plans extending to two or three years.
Regional plan: This is the type of plan that focuses on the specific regions of a country.
Sectoral plan: This focuses on the relationship and needs of different sectors of the economy.
National plan: This covers all geo-political units in a country.
Indicative planning: This is the type of plan which relies to some extent on market forces to allocate resources. The government only provides rules, ceilings, rates, guidelines and penalties for non-compliance.
Comprehensive planning: This touches all aspects of the economy, small and big enterprises, domestic and foreign trade, prices and output decisions of firms, wages, production target and inter-relationship between sectors.