Economic planning, pioneered by the Soviet Union, has two kinds of plans: short-term plans and long-term plans. What is a long-term plan also called?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Perspective plan
A long-term plan, usually covering about 20 years, is called a perspective plan. In India it sets the broad goals, and the shorter Five Year Plans are drawn up within it to work towards those goals.