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The correct statement regarding the revised ceiling on poll expenditure for elections in India is option 3: Rs. 70 Lakh per candidate for Lok Sabha Constituencies for all states except Arunachal Pradesh, Goa, and Sikkim.
Option 1, which states that the expenditure limit is Rs. 40 Lakh per candidate for all Lok Sabha as well as Assembly Constituencies, is incorrect.
Option 2, which states that the expenditure limit is Rs. 70 Lakh per candidate for all Lok Sabha Constituencies, is incorrect.
Option 4, which states that the expenditure limit is Rs. 70 Lakh per candidate for Lok Sabha Constituencies for all states except Union Territories, is incorrect.
Therefore, the correct answer is option 3, as it specifies the revised expenditure limit of Rs. 70 Lakh per candidate for Lok Sabha Constituencies in all states except Arunachal Pradesh, Goa, and Sikkim.