The UGC Library Committee (1957) has suggested that a university library with 5,000 students and 500 teachers and research fellows should have a budgetary provision of Rs. 3,50,000 out of which Rs. 1,75,000 would be spent on ______.

I. Books, journals, and other kinds of reading materials

II. staff

III. equal amounts should be spent on books and staff.

which of the statement is correct?