International Institutions

International Affairs

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Indian Economy - Understanding the basics of Indian economic system

The World Economic Forum (WEF) releases its annual Global Competitiveness Report (GCR). Consider the following statements regarding the same.

1.The GCI combines 114 indicators that capture ideas and concepts that matter for productivity.

2.These indicators are grouped into three sub-indices and further into 12 pillars of competitiveness.

3.The three sub-indices are basic requirements subindex, efficiency enhancers subindex and innovation and sophistication factors subindex.

4.The report also classifies economies into five stages of development primarily by taking GDP per capita into account.

Which of these statements are correct?

1,2,3

2,3,4

2&4

All are correct

All the statements are correct.