Question

Consider the following statements regarding the Union Budget and Fiscal Indicators: 1. The fiscal deficit represents the excess of total revenue receipts over total expenditure. 2. The primary deficit is the fiscal deficit minus interest payments. 3. The effective revenue deficit excludes grants for the creation of capital assets. Which of the above statements is/are correct?

A 1 and 2 only
B 2 and 3 only
C 1 and 3 only
D 2 only
E 1, 2 and 3
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