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 the requirements of the economy IV. A perspective plan for 10, 15 or 20 years Which of the above are correct?

Explanation

A ‘Rolling Plan’ is a flexible planning approach. Under it, three plans are prepared—short-term (for one year), medium-term (for 3–5 years) and long-term (for 10–20 years). Necessary modifications are made every year as per requirements. Thus, it is a flexible plan that moves forward by adjusting itself according to circumstances.