Correct Answer - Option 1 : Infant mortality, life expectancy and adult literacy rate
PQLI:
PQLI stands for Physical Quality of Life Index. It is a composite indicator to measure economic development of a nation. It measures the quality of life or well-being of a country based on three indicators i.e. basic literacy rate, infant mortality, and life expectancy.
Life expectancy rate: Average number of years a person expected to live
Infant mortality rate: Number of infants dying with one year of their birth out of every 1000 births
Basic literacy rate: Any person above the age of 7 year who can read and write in any one language with an ability to understand it is considered as literate
Calculation of PQLI:
For each of the indicator, the performance of individual country is rated in a scale of 1 to 100 where 1 represents the worst performance and 100 represent the best performance.
Formula to obtain PQLI = (L.E.I. + I.M.I. + B.L.I.)/3
Advantages of PQLI:
- Aspect of welfare has been considered
- Helps the government for analysis
- Easy to compare
- Also considers distribution
- Data required is easily available
Limitations of PQLI:
- Many other factors have been ignored
- All factors have been given equal importance
- Not a proper measure of economic development
