Question

what is the main criteria used by the world bank in classifing different countries? what are the limitation of this criterion

Answer 1

1) Per Capita income criterion is used by the World Bank in classifying different countries.
2)Countries with per capita income of rs.4,53,000 &above per annum are called rich countries.
3) Countries between 4,53,000& 37,000 per annum are called middle income countries.