Explanation:

- The Performance Grading Index (PGI) is an assessment framework by the Ministry of Education aimed at evaluating the performance of states and union territories in school education.

- Option 1: Kerala - Known for its high literacy rate and educational infrastructure but not consistently in the top five for PGI for 2020-2021.

- Option 2: Punjab - Featured as one of the top-performing regions in the PGI for 2020-2021, indicating strong school education standards.

- Option 3: NCT of Delhi - This Union Territory was among the top performers due to significant investments and reforms in education.

- Option 4: Chandigarh - Also ranked in the top five, reflecting its strong emphasis on educational quality.

Correct Answer: Option 1: Kerala - While Kerala is traditionally known for its robust education system, it was not in the top five of the PGI rankings for the year 2020-2021.