Q.The basic philosophy behind long-term planning is to bring ________ changes in the economy.

The Gandhian Plan focused on agriculture and the rural economy — option (a).

In the Tamil Nadu HSC Class-12 Economics syllabus (Economics of Development and Planning), several pre-independence plans were proposed:

• Gandhian Plan (Shriman Narayan Agarwal, 1944) — laid stress on the development of agriculture, village/cottage industries and a decentralised rural economy, reflecting Gandhian ideals.
• Bombay Plan (1944) — proposed by leading industrialists, emphasising industrialisation.
• People's Plan (M.N. Roy) — based on nationalisation and collective agriculture. …

A short-term plan is also known as a rolling plan.

Economic plans are classified by their time period as short-term, medium-term and long-term (perspective) plans. A short-term plan usually covers about a year and takes the form of a rolling plan — a plan in which, at the end of each year, the performance is assessed and the plan is revised and extended by adding a fresh year, so the plan keeps 'rolling' forward continuously.

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Long-term planning aims to bring structural changes in the economy, so option (c) is correct.

In the economic-planning topic of the Tamil Nadu HSC Commerce syllabus, long-term (perspective) planning looks 15-20 years ahead and aims at fundamental, lasting transformation rather than short-term fixes.

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Short-term plans are called rolling plans.

A rolling plan is a plan that is revised every year: at the end of each year the achievements are reviewed, targets are updated, and a new year is added so the plan is continuously 'rolled' forward. This makes short-term planning flexible and responsive to changing economic conditi …