How is this a balanced chemical equation ?

2 fe2o3 + 3 c → 4 fe + 3 co2

For a balanced equation, you are looking for the same numbers of molecules for both your products and reactants.

On your reactant side, you have 4 Fe molecules, 6 O molecules and 3 C molecules.

On your product side, you have 4 Fe molecules, 3 C molecules and 6 O molecules.

Hope this helps