1. Correct Answer: Option D: I, II, and III
 2. Explanation:
     ● Statement I is correct: Revenue Deficit  
       ● Definition: *Revenue Deficit = Revenue Expenditure – Revenue Receipts*  
       ● Calculation:  
             ○ Revenue Expenditure = ₹80,000 crores
             ○ Revenue Receipts = ₹60,000 crores
           ○ So, *Revenue Deficit = ₹80,000 – ₹60,000 = ₹20,000 crores*
     ● Statement II is correct: Fiscal Deficit  
       ● Definition: *Fiscal Deficit = Total Expenditure – Total Receipts (excluding borrowings)*  
           ○ In this question, total borrowings by the government are ₹10,000 crores, which means the gap between the government’s total expenditure and its non-borrowed receipts is being met by borrowing ₹10,000 crores.
           ○ *Fiscal Deficit is the total borrowing requirement of the government. In the given scenario, the borrowings directly represent the fiscal deficit.*
           ○ *Fiscal Deficit = Borrowings = ₹10,000 crores*
     ● Statement III is correct: Primary Deficit  
       ● Definition: *Primary Deficit = Fiscal Deficit – Interest Payments*  
       ● Calculation:  
             ○ Fiscal Deficit = ₹10,000 crores
             ○ Interest Payments = ₹6,000 crores
           ○ *Primary Deficit = ₹10,000 – ₹6,000 = ₹4,000 crores*
     ● Hence, all three statements are correct.