Planning is described as a systematic process involving thinking, formulating a scheme or program, and implementing actions to achieve a specified goal.

Application To Economic Development

In this context, planning is applied to the process of economic development, where it’s highlighted as a structured approach contrary to the traditional hit-and-miss methods used in reforms and reconstruction.

Sectoral Planning

Sectoral planning focuses on developing individual sectors within the economy such as agriculture, irrigation, manufacturing, power, construction, transport, communication, and social infrastructure.

Each sector has its own set of schemes or programs aimed at its development, allowing for a focused approach to tackling specific challenges and leveraging opportunities within that sector.

Regional Planning

Regional planning, on the other hand, is a spatially-oriented approach aiming at addressing the uneven economic development across different regions within a country.