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 Government.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Government.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 statement(s) given above is/are correct?

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Consider the following statements.<br />1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general<br />(combined) government by 2023, comprising 40% for the Central Government and 20% for the State Government.<br />2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Government.<br />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 statement(s) given above is/are correct?






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