Q. Consider the following statements:

I. Capital receipts create a liability or cause a reduction in the assets of the Government.
II. Borrowings and disinvestment are capital receipts.
III. Interest received on loans creates a liability of the Government.

Which of the statements given above are correct?
(a) I and II only
(b) II and III only
(c) I and III only
(d) I, II and III

40. निम्नलिखित कथनों पर विचार कीजिए:

I. पूँजीगत प्राप्तियाँ देयता का सृजन करती है या सरकार की परिसंपत्तियों में कमी लाती हैं।
II. उधार-ग्रहण और विनिवेश पूँजीगत प्राप्तियाँ हैं।
II. ऋणों पर प्राप्त ब्याज सरकार की देयता का सृजन करता है।

उपर्युक्त कथनों में कौन-कौन से सही हैं?
(a) केवल I और II
(b) केवल II और III
(c) केवल I और III
(d) I, II और III

Answer : (a)

Explanation:

Statement I is correct – Capital receipts either:

• Increase government liabilities (e.g., borrowings), or
• Reduce its assets (e.g., disinvestment – selling government stake in PSUs).

Statement II is correct – Examples of capital receipts:

• Borrowings from domestic or foreign sources.
• Disinvestment proceeds from sale of public sector assets.

Statement III is incorrect –

• Interest received on loans (e.g., from states or PSUs) is revenue receipt, not a liability.
• It does not create a liability for the government—it’s income.

Source: NCERT Textbook PDF