Current Affairs · Quality of Public Expenditure Index
Evaluate the following statements regarding the methodological framework and foundational construct of the Quality of Public Expenditure (QPE) index: 1. The structural analysis categorizes India's public expenditure trajectory since 1991 into six distinct phases shaped by fiscal policy reforms and macroeconomic shocks. 2. The QPE index is empirically formulated utilizing a Dynamic Factor Model (DFM). 3. The formulation of the index integrates capital outlay and developmental spending, but structurally omits interest burden indicators. 4. A higher score on the developed QPE index exhibits a positive association with both stronger economic performance and improved social outcomes. Which of the statements given above are correct?
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- 21, 2, and 3 only
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1, 2, and 4 only
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