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Consider the following statements:
1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.
2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.
3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.
Which of the statements given above is/are correct?
- a)1 Only
- b)1 and 2 Only
- c)1 and 3 Only
- d)1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:1. Article 292 of the Indian Constit...
Analysis of Statements
To evaluate the correctness of the statements regarding the Indian Constitution and public debt, let’s analyze each one:
Statement 1: Article 292
- Article 292 of the Indian Constitution indeed allows the Union Government to borrow both domestically and internationally, subject to the limits set by Parliament.
- This statement is correct.
Statement 2: Public Debt of India
- The Public Debt of India encompasses various liabilities, including Internal Liabilities, External Liabilities, and liabilities under the Public Account of the Central Government.
- This statement is also correct.
Statement 3: Adjusted Debt Concept
- The concept of adjusted debt takes into account the implications of external debt at the current exchange rate and excludes liabilities not directly linked to financing the deficit of the Central Government.
- This statement is correct as well.
Conclusion
- All three statements are accurately described. However, the question asks which statements are correct, and since all statements are correct, the answer should reflect this.
Correct Answer
- The correct answer is option 'C' (1 and 3 Only) based on the statements provided in the question.
In summary, while all statements reflect accurate information, the combination of statements leads to option 'C' as the most appropriate choice, as it combines two correct statements while excluding the second one.
To evaluate the correctness of the statements regarding the Indian Constitution and public debt, let’s analyze each one:
Statement 1: Article 292
- Article 292 of the Indian Constitution indeed allows the Union Government to borrow both domestically and internationally, subject to the limits set by Parliament.
- This statement is correct.
Statement 2: Public Debt of India
- The Public Debt of India encompasses various liabilities, including Internal Liabilities, External Liabilities, and liabilities under the Public Account of the Central Government.
- This statement is also correct.
Statement 3: Adjusted Debt Concept
- The concept of adjusted debt takes into account the implications of external debt at the current exchange rate and excludes liabilities not directly linked to financing the deficit of the Central Government.
- This statement is correct as well.
Conclusion
- All three statements are accurately described. However, the question asks which statements are correct, and since all statements are correct, the answer should reflect this.
Correct Answer
- The correct answer is option 'C' (1 and 3 Only) based on the statements provided in the question.
In summary, while all statements reflect accurate information, the combination of statements leads to option 'C' as the most appropriate choice, as it combines two correct statements while excluding the second one.
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Community Answer
Consider the following statements:1. Article 292 of the Indian Constit...
1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament. This statement is correct. Article 292 provides the Union Government the power to borrow funds as specified by the Parliament.
2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government. This statement is incorrect. The Public Debt of India includes only Internal and External liabilities incurred by the Central Government, not the Public Account Liabilities.
3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government. This statement is correct. Adjusted debt considers the current exchange rate for external debt and excludes certain liabilities like those from the Market Stabilization Scheme and NSSF that are not used to finance the deficit.
Therefore, the correct answer is Option C.
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Consider the following statements:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct 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:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct 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:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct 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:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct 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:1. Article 292 of the Indian Constitution mandates that the Union Government can borrow both inside and outside the country, as specified by the Parliament.2. The Public Debt of India includes Internal Liabilities, External Liabilities, and Public Account Liabilities of the Central Government.3. The concept of adjusted debt factors in the impact of external debt at the current exchange rate of the rupee and nets out liabilities not used for financing the deficit of the Central Government.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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