Consider the following statements : 1. Capital receipts create a liability or cause a reduction in the assets of the Government. 2. Borrowings and disinvestment are capital receipts. 3. Interest received on loans creates a liability of the Government. Which of the statements given above are correct?
a
1 and 2 only
b
2 and 3 only
c
1 and 3 only
d
1, 2 and 3
Public FinanceGovernment BudgetingCapital receiptsLiabilityAssetsBorrowingsDisinvestmentInterest received