Nowadays, the best chance to implement active measures for the modernization of the Russian economy and ensuring its sustainable development is to use strategic planning practices. However, strategic planning could be realized effectively only as a vertical with an active participation of sub-national (i.e. regional and municipal) management level. However, its role as the subject of strategic planning meets with certain obstacles and to eliminate them is essential task in the coming years. The article shows the main gaps existing in the current version of the law on strategic planning, especially, gaps, relating to the main features of such planning at the regional and local (municipal) level. The authors pay special attention to the development of economic, legal and institutional prerequisites for the effective implementation of the system of strategic planning at the sub-national level. The authors point out that is the main reason for the containment of high-quality strategic plans and programs on the long-term socio-economic development of the subjects of the Russian Federation and the municipalities is the fragility and scarcity of regional and local budgets and that fact that the current model of intergovernmental fiscal relations at all levels of the national budgetary system is inconsistent with the principles (requirements) of the system or a vertical strategic planning. The article proves the requirement for the typification of the Russian Federation regions as the subjects and the objects of a regional development policy. The authors show that for each group of the subjects of the Russian Federation with their specific socio-economic characteristics it is necessary to prescribe legally not only special approaches to implement the strategic planning model, but also the specific forms of interaction between these regions as the objects of a regional development policy with the Federal Centre.