Civil Services Punjab State Civil Services CCE 2025 General Knowledge Economy National Income Accounting
Consider the following statements regarding the World Bank’s income classification and South Asia’s income levels in 2023:
1. The World Bank classifies economies into four groups based on per-capita Gross National Income (GNI) in US dollars: low, lower-middle, upper-middle, and high.
2. In 2023, 25% of South Asian countries were classified as low-income economies.
Which of the statements given above is/are correct?
1
Only 1
2
Only 2
3
Both 1 and 2
4
Neither 1 nor 2