Consider the following statements: 1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Governments. 2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments. 3. As per the Constitution of India, it is mandatory for a State to take the Central Government's consent for raising any loan if the former owes any outstanding liabilities to the latter. Which of the statements given above is/are correct?
A1 only
B2 and 3 only
C1 and 3 only
D1, 2 and 3
Answer & Solution
Correct answer: D. 1, 2 and 3
UPSC CSE Prelims 2018 (GS-I, Set C), Q.9. Official answer key: D.
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