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 ?
a
1 only
b
2 and 3 only
c
1 and 3 only
d
1, 2 and 3
Indian EconomyFiscal Policy & Public FinanceFiscal Responsibility and Budget Management (FRBM) Review CommitteeDebt to GDP ratio60%2023Central GovernmentState GovernmentsDomestic liabilitiesArticle 293(3)