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Which of the following is a revenue expenditure? I. Subsidies II. Interest payments III. Loan to State Government

1. Only I
2. Only II
3. Only II and III
4. Only I and II

Correct answer: Only I and II

Solution

Subsidies and interest payments are revenue expenditures because they are recurring and do not create assets. A loan to a state government is a capital expenditure since it creates a financial asset. Hence, only I and II are correct.

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