what is the criteria used by the world bank report 2006 for classifying countries as rich and poor
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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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kaja712:
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I have an another doubt
What is proto industrialization
Proto-industrialisation is the phase of industrialisation that was not based on the factory system. Before the coming of factories, there was large-scale industrial production for an international market. This part of industrial history is known as proto-industrialisation.
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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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