To solve the given statement with blanks effectively, we need to understand the context provided: "Holding simultaneous elections to the Lok Sabha and State Assembly may have larger ______ , but there is a ______ that it could disadvantage regional parties."
We need to fill the blanks with the most suitable words that align with the statement contextually.
Let's examine the options:
Upon analyzing these options, the correct and most coherent fill would be "Benefits, perception":
"Holding simultaneous elections to the Lok Sabha and State Assembly may have larger Benefits, but there is a perception that it could disadvantage regional parties."
This selection appropriately reflects the mixed nature of potential outcomes from such elections and the perceived challenges they might present to regional parties.