Among the given options, the correct answer is Option 4: I, II, III, and IV.

Let`s analyze each option and provide a detailed reasoning for the answer:

I. Defence expenditure: Defence expenditure refers to the funds allocated by the Government of India for national defense purposes. It includes expenses related to the military, such as salaries, equipment, research and development, and maintenance of defense infrastructure. Defence expenditure is considered a non-plan expenditure because it is not directly linked to specific developmental plans or projects. Instead, it is a recurring expense necessary for maintaining national security and defense capabilities.

II. Subsidies: Subsidies are financial assistance provided by the government to support certain sectors or groups of people. In India, subsidies are commonly given for various purposes, such as food, fertilizers, education, healthcare, and housing. These expenditures are classified as non-plan because they are typically recurring in nature and not directly tied to the implementation of specific plans or projects. Subsidies aim to provide relief or support to specific segments of the population or industries.

III. All expenditures linked with the previous plan periods: This statement refers to expenses associated with the implementation of previous Five-Year Plans or other developmental plans. In India, the government formulates Five-Year Plans to guide its developmental efforts in various sectors. The expenditures related to these plans, such as infrastructure development, social welfare programs, and public service delivery, are classified as plan expenditures. However, expenses linked to previous plan periods are considered non-plan expenditures because they are not part of the current plan cycle.

IV. Interest payment: Interest payment refers to the funds allocated by the government to service its debt obligations. The Government of India borrows money through various channels, such as issuing bonds or taking loans from domestic and international sources. The interest paid on these borrowings is a non-plan expenditure because it is a recurring expense incurred to meet the interest obligations on the outstanding debt. It is not directly linked to specific developmental plans but rather reflects the government`s financial obligations.

Based on the explanations above, we can conclude that all the options I, II, III, and IV are among the non-plan expenditures of the Government of India. Therefore, the correct answer is Option 4: I, II, III, and IV.