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The correct answer is option (d): 1, 2 and 4 only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
This question was asked in UPSC CSE Prelims 2020, GS Paper 1, as Question 3. It falls under Indian Polity > Public Finance & Finance Commission.
This question is rated "moderate". It requires sound conceptual understanding of the topic.
UPSC has asked 13 questions from Public Finance & Finance Commission (under Indian Polity) across multiple years. Visit the topic page to see the full list and year-wise trends.