Which of the following statements is/are correct according to the World Bank’s "World Development Report 2024: The Middle Income Trap"?
- India may take nearly 75 years to achieve one-fourth of the United States (US) income per capita.
- By the end of 2023, 108 countries with a total population of 6 billion were classified as ‘middle-income’.
- Since 1990, only 50 middle-income economies have managed to shift to high-income status.
1
Only 1 and 2
2
Only 2 and 3
3
Only 1 and 3
4
Only 2
5
All of the above