Q. With reference to the Indian Public Finance, consider the following statements.1. External liabilities reported in the Union Budget are based on historical        exchange rates 2. The continued high borrowing has kept the real interest rates high in the       economy.3. The upward trend in the ratio of Fiscal Deficit to GDP in recent years has       an adverse effect on private investments4. Interest payments is the single largest component of the non-plan revenue     expenditure of the union Government. Which of these statements are correct ? 

1. 1,2 and 3
2. 1 and 4
3. 2,3 and 4
4. 1,2,3 and 4