Question

Which of the following statements is/are NOT TRUE with respect to the data been released in Reserve Bank of India’s report State Finances: A Study of Budgets of 2023-24?
I.States’ total outstanding liabilities are budgeted to fall to 22.6 per cent of GDP for 2023-24 from the peak of 31 per cent in 2020-21.
II.Gross market borrowings increased in 2022-23, reaching Rs 5.58 trillion, with some states reducing borrowings in the past two years.
III.Committed expenditure, which includes interest payments, administrative services, and pension, is expected to remain at 4.5 per cent of GDP.

A Only I
B Only I & II
C Only III
D Only I & III
E None of these
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