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Q:

Is battery or altenator faulty if battery light on and voltmeter at 1/4th dial? on 1997 GMC 3500 Pickup

Rookie cbe0621eac06868b3efe0d8d1d3611e23c60d3114864ea2ec19a68cfbd3eebab
warning light went on and meter indicated discharge when I started ignition.
(1) Answer
I wouldn't pay too much attention to the voltmeter, but a battery light indicates a charging system failure.

Make sure the battery is fully charged and then test the charging system. Chances are the alternator has failed.