Question

what is the criteria used by the world bank report 2006 for classifying countries as rich and poor

Answer 1

In World Development Report 2006, brought out by the World Bank, this criterion is used in classifying countries. Countries with per capita income of Rs 4,53,000 per annum and above in 2004, are called rich countries and those with per capita income of Rs 37,000 or less are called low-income countries. India comes in the category of low-income countries because its per capita income in 2004 was just Rs 28,000 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called developed countries.


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Answer 2

In World Development Report 2006, brought out by the World Bank, this criterion is used in classifying countries. Countries with per capita income of Rs 4,53,000 per annum and above in 2004, are called rich countries and those with per capita income of Rs 37,000 or less are called low-income countries. India comes in the category of low-income countries because its per capita income in 2004 was just Rs 28,000 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called developed countries.