The correct answer is C: Yes, because it is not for domestic or agriculture purpose.

The legal principle states that "arms" means articles designed or adapted as weapons of offence or defense but do not include articles purely for domestic or agriculture use. In this case, Balram possesses an iron rod which he keeps with him for self-defense. Since the iron rod is designed or adapted as a weapon of defense and is not used for domestic or agricultural purposes, it can be considered an "arm" under the legal principle. Therefore, the correct answer is C: Yes, because it is not for domestic or agriculture purpose.