2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Upper-Middle-Income
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High-Income
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Lower-Middle-Income
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Low-Income
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Detailed explanation-1: -In this year’s list, India continues to be classified as the lower-middle-income country.
Detailed explanation-2: -They are defined as lower middle-income economies-those with a GNI per capita between $1, 036 and $4, 045; and upper middle-income economies-those with a GNI per capita between $4, 046 and $12, 535 (2021). Middle income countries are home to 75% of the world’s population and 62% of the world’s poor.
Detailed explanation-3: -Among fellow developing economies – BRICS – India is the only country in the lower-middle-income group. The others: Brazil at $9, 140 or Rs 6, 24, 810; Russia at $10, 230 or Rs 6, 99, 323; China at $9, 470 or Rs 6, 47, 369 and South Africa at $5, 720 or Rs 3, 91, 019 are in the upper-middle-income group.