state gov Kerala PSC Degree (Common Preliminary Examination) Mock Test Series 2025 General Knowledge Economy Money and Banking
Consider the following statements regarding social sector expenditure in India as per Economic Survey 2024-25:
Statement I: The compounded annual growth rate (CAGR) of social services expenditure (Centre + States) from FY21 to FY25 was 15%.
Statement II: The Gini coefficient, which measures income inequality, has increased in both rural and urban areas in FY24, indicating rising inequality.
Which of the following is correct with respect to the above statements?
1
Both Statement I and Statement II are correct, and Statement II explains Statement I.
2
Both Statement I and Statement II are correct, but Statement II does not explain Statement I.
3
Statement I is correct, but Statement II is incorrect.
4
Statement I is incorrect, but Statement II is correct.