Consider the following about the 'Rolling Plan' :

I. A plan for the current year which includes the annual budget

II. A plan for a fixed number of years, say 3, 4 or 5

III. It is revised every year as per requirements of the economy

IV. A perspective plan for 10, 15 or 20 years

Which of the above are correct?

Correct option is D

• The 'Rolling Plan' for backward countries was suggested by Gunnar Myrdal in his book 'Indian Economic Planning in its Broader Setting'. 

• The Rolling Plan consists of three different plans. 

• First, a plan for the current year which includes the annual budget and second, a plan fixed for a fixed number of years, which may be 3, 4 or 5 years. 

• As per the requirement of the economy, it is revised every year. 

• Third, a perspective plan for long terms i.e. 10, 15 or 20 years. 

• The main advantage of the Rolling Plans was that they were flexible and were able to overcome the rigidity of fixed Five Year Plans by mending targets, the object of the exercise, projections and allocations as per the changing conditions in the country's economy.

​​