Economic planning is the ladder of development. justify in 4 points

Economic planning is the process of defining and setting objectives in an economy. such objectives would be how to use available resources.

planning is important because it helps in achieving goals.
It also assigns a timeline to the economic process.
It is also helpful in monitoring intiative as the plans are already broken down to achievable objectives.
 The planning also help in drawing realistic objectives and making important decision.

You don’t list any options but the one that frets overspending and the consequences of that.