In the context of budgetary deficits, consider the following statements with reference to the Primary Deficit:
1. It is the total government borrowings available to utilize after interest payments.
2. Primary Deficit in India is always higher than the Fiscal Deficit.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2