UPSC Exam > UPSC Questions > Consider the following statements:Statement-...
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Consider the following statements:
Statement-I:
Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.
Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.
Statement-II:
Public Debt of India includes only Internal and External liabilities incurred by the Central Government.
Public Debt of India includes only Internal and External liabilities incurred by the Central Government.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:Statement-I:Debts of the Government...
Explanation of the Statements
Statement-I discusses the borrowing powers of the Union and State Governments in India concerning Article 292 and Article 293 of the Constitution.
- Union Government (Article 292):
- Can borrow both domestically and internationally.
- Borrowing is subject to the limits specified by the Parliament.
- State Governments (Article 293):
- Limited to borrowing only within the country.
- This reflects a more controlled financial environment for states.
Statement-II pertains to the nature of Public Debt in India.
- Public Debt of India:
- Comprises both internal and external liabilities.
- However, Statement-II incorrectly states that it includes only the liabilities incurred by the Central Government, neglecting the public debt incurred by State Governments.
Correctness of the Statements
- Statement-I:
- Correct, as it accurately describes the borrowing framework for both Union and State Governments.
- Statement-II:
- Incorrect, because it limits the definition of public debt to only the liabilities of the Central Government and omits the debts of State Governments.
Conclusion
The answer to the question is option 'C':
- Statement-I is correct, but Statement-II is incorrect.
This distinction is crucial in understanding the overall framework of public debt management in India.
Statement-I discusses the borrowing powers of the Union and State Governments in India concerning Article 292 and Article 293 of the Constitution.
- Union Government (Article 292):
- Can borrow both domestically and internationally.
- Borrowing is subject to the limits specified by the Parliament.
- State Governments (Article 293):
- Limited to borrowing only within the country.
- This reflects a more controlled financial environment for states.
Statement-II pertains to the nature of Public Debt in India.
- Public Debt of India:
- Comprises both internal and external liabilities.
- However, Statement-II incorrectly states that it includes only the liabilities incurred by the Central Government, neglecting the public debt incurred by State Governments.
Correctness of the Statements
- Statement-I:
- Correct, as it accurately describes the borrowing framework for both Union and State Governments.
- Statement-II:
- Incorrect, because it limits the definition of public debt to only the liabilities of the Central Government and omits the debts of State Governments.
Conclusion
The answer to the question is option 'C':
- Statement-I is correct, but Statement-II is incorrect.
This distinction is crucial in understanding the overall framework of public debt management in India.
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Community Answer
Consider the following statements:Statement-I:Debts of the Government...
Statement-I correctly highlights the borrowing mandates for the Union Government and the States as per the Constitution of India. However, Statement-II is incorrect as Public Debt of India includes not just Internal and External liabilities of the Central Government but also Public Account Liabilities, making this statement partially incorrect.
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Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:Debts of the Governments: While the Union Government of India is mandated to borrow inside and outside the country the amount specified by the Parliament (Article 292), States are mandated (Article 293) to borrow only inside the country.Statement-II:Public Debt of India includes only Internal and External liabilities incurred by the Central Government.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
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