According to the recently released Status Paper on Government Debt for 2017 18 by Department of Econ...........

Economic Affairs Public Finance and Debt Management

According to the recently released Status Paper on Government Debt for 2017-18 by Department of Economic Affairs, which of the following statement/s is/ are correct?

Centre’s has reduced its total debt as a percentage of GDP to below 40%.
N.K. Singh-headed FRBM (Fiscal Responsibility and Budget Management) Review Committee report had recommended the ratio to be 40% for the Centre and 20% for the States, respectively, by 2023.

Choose the correct answer from the codes below:

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

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Explanation:

According to the Status Paper on Government Debt for 2017-18, Centre’s total debt as a percentage of GDP reduced to 46.5% in 2017-18 from 47.5% as of March 31, 2014. The total debt of the States, however, has been rising over this period, to 24% in 2017-18, and is estimated to be 24.3% in 2018-19.

Whereas, The N.K. Singh-headed FRBM (Fiscal Responsibility and Budget Management) Review Committee report had recommended the ratio to be 40% for the Centre and 20% for the States, respectively, by 2023.