Question

what is the main criteria used by the World Bank in classifying different countries what is the limitation of that criteria

Answer 1

The main criterion used by the World Bank in classifying different countries is the per capita income or averageincome of a person in a country. Limitations of this criterion: It does not tell us about how this average incomeis distributed among the peoplein the individual countries.

Answer 2

The World development reports , brought out by the world banks , this criteria is used in classifying countries. Countries with per capita income of US$ 12,056 per annum and above in 2017 , are called rich countries and those with per capita income of US$ 1035 or less are called low-income

countries. India comes in the category  of low middle income countries  because its per capita income in 2012  was just US$ 1530 per annum.