This is a para-jumble question that tests your ability to spot the logical opening sentence and trace the thread of the argument through connector words and pronouns.
Putting it together: C-E-A-B-D reads as "Bifurcation of plan and non-plan funds in the budget is artificial, but there is some merit in it, as distinct from consumption, in so far as it focuses attention on development expenses." This matches option C (CEABD), which is correct. Options A, B and D break this chain, either opening with a dependent clause or separating "but" from its trigger.
Let's summarize:
Read the reconstructed sentence once fully to confirm it flows logically before marking your answer.