ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India according to the World Bank classification falls in the category of
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Low-income economies
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Lower-middle income economies
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Upper-middle income economies
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High-income economies
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Explanation:
Detailed explanation-1: -Detailed Solution. The correct answer is Lower-Middle Income Country.
Detailed explanation-2: -India is currently what the World Bank describes as a lower middle income country.
Detailed explanation-3: -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-4: -The World Bank classifies economies for analytical purposes into four income groups: low, lower-middle, upper-middle, and high income.
There is 1 question to complete.