Option (B) is correct because the context clearly states that regional planning involves having a 'spatial perspective' and drawing plans to reduce 'regional imbalance in development.' It addresses the uneven pattern of development over space where some areas are more developed while others lag behind. This makes it an area-specific approach to development. Option (A) is incorrect as it describes 'sectoral planning,' which focuses on development of various sectors of the economy like agriculture, manufacturing, transport, etc. Regional planning is distinct from sectoral planning as it takes into account the spatial differences in development rather than focusing on economic sectors.