The correct answer is (b).
Panchayat Raj is a system of local self-government in India. It is a decentralized planning system in which the planning process is carried out at the village, block, and district levels. The Panchayat Raj system is based on the principle of democratic decentralization, which means that the people have a say in the planning and implementation of development programs.
Central planning is a system in which the central government controls all aspects of the economy, including planning, production, and distribution. Capitalistic planning is a system in which the private sector controls the economy, with the government playing a limited role. Rolling planning is a system in which the planning process is constantly being revised and updated.
Panchayat Raj is not related to central planning, capitalistic planning, or rolling planning. It is a decentralized planning system in which the people have a say in the planning and implementation of development programs.