One lacuna in the present process of planning is the absence of a systematic effort to modify the plan targets as surpluses and bottlenecks arise in the course of a plan. To meet this problem, it is not necessary to resort to rolling plan which involves planning for five years at the beginning of each year. A rolling for this purpose is too complex and cumbersome a procedure. It may in fact reduce the discipline required to implement a given plan. On the other hand, a formal re planning after a plan has been in operation for a few years will provide an opportunity for critically examining the past performance and for taking appropriate corrective measures. This paper has argued that the task of resetting the targets is not a mechanical one. It involves establishing a new set of consistent targets bearing in mind the dominant objective to be fulfilled. In the case of multiple objectives to be satisfied this will require the planners to establish a new trade off among them.