Q1. In the context of the Union Budget, the term 'Effective Capital Expenditure' refers to which one of the following?
- A. The sum of the Centre's capital outlay and the grants-in-aid given to States/UTs for the creation of capital assets
- B. Capital expenditure adjusted for inflation using the GDP deflator of the base year
- C. The sum of the Centre's capital outlay and interest payments on past capital borrowings
- D. The portion of capital expenditure financed exclusively through market borrowings of the Centre