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Consider the following statements: Statement-I: While the Union Government may borrow inside and outside the country within limits fixed by Parliament (Article 292), States are mandated under Article 293 to borrow only inside the country. Statement-II: The Public Debt of India includes only the internal and external liabilities of the Central Government. Which is correct?

1. Consider the following statements: Statement-I: While the Union Government may borrow inside and outside the country within limits fixed by Parliament (Article 292), States are mandated under Article 293 to borrow only inside the country. Statement-II: The Public Debt of India includes only the internal and external liabilities of the Central Government. Which is correct?

 

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