Examine the following statement (s) in the context of Zero Based Budgeting (ZBB).
I. It was first taken up in India in the Union Budget 1987
II. It is based on prioritizing all governing expenditure
III. There is a cost benefit analysis of all schemes and the most important ones are kept alive if they are working well.
Which of the following statement (s) given above are correct?

[A] I and II

[B] I and III

[C] II and III

[D] All of these

Answer & Explanation
Answer: I and II