-
Consider the following statements:
(1) The state sets Broad Parameters and goals for the economy.
(2) The targets to be achieved are broadly set by the state.
(3) the plan is made for the specific time period of about 15 years.
Which of the statements given above is/are correct about the Indicative planning?
-
- 1, 2 and 3
- 1 and 2
- 1 and 3
- only 1
Correct Option: B
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 increase economic performance. Regarding the indicative planning, state sets broad parameters and goals for the economy and the targets to be achieved are broadly set by the state.
