State the criterion used by the world bank as per world development report 2013, in classifying the countries. How did the world bank define low and high income countries?
Answers
Answered by
2
Answer:
The World Bank considers only per capita income as an indicator of development.
According to this criterion, countries with a per capita income of US $ 12236 per annum or above in 2016, are rich countries and those with a per capita income of US $ 1005 per annum or less are low-income countries.
According to this classification, India, with a per capita income in 2016 of just US $ 1840 per annum is considered a low middle income country.
Explanation:
Similar questions