कर्ज हस्तांतरण (अदलबदल) (स्वॅप) योजनेचा मुख्य उद्देश काय ?

The correct answer is Option A (To liquidate high cost loans given by the Central Government to the States).

Key Points:
• The Debt Swap Scheme (DSS) was designed by the Government of India and implemented over a three-year period between 2002–03 and 2004–05.
• Prior to 2000, state governments carried severe interest repayment burdens on historical central development loans carrying high coupon rates (above 13% to 14.5%) contracted during high-inflation decades.
• During 2002–04, domestic market interest rates softened substantially to around 6%–7%.
• The primary objective of the Debt Swap Scheme was to enable State Governments to swap/pre-pay these high-cost loans owed to the Central Government using low-cost fresh market borrowings (SDLs) and proceeds from the National Small Savings Fund (NSSF).
• Over ₹1.02 lakh crore of high-cost central debt was successfully swapped, significantly lowering debt-servicing burdens for the states.
• The official MPSC final answer key confirms Option 1.
• Key Takeaway: The Debt Swap Scheme allowed states to replace high-cost central loans with low-interest market borrowings.