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The correct answer is option (a): I and II only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
This question was asked in UPSC CSE Prelims 2025, GS Paper 1, as Question 10. It falls under Indian Economy > Fiscal Policy & Budget.
This question is rated "moderate". It requires sound conceptual understanding of the topic.
UPSC has asked 45 questions from Fiscal Policy & Budget (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.