which criterion are used by the world development report
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the world development report 2012 brought out by the World bank has given the following Criterion in classifying countries-
rich or high income countries -
countries with the per capita income of US $1216 Per annum and above in 2012 are called rich countries.
Poor or low income countries- the countries with the per capita income of US $1035 or less, are called low income countries.
India comes in the category of low middle income countries because is per capita income in 2012, was just US $1530 per annum. the rich countries, excluding countries of Middle East and other small countries, are generally called the developed countries.
Limitations -
1. It covers only the economic aspects ignoring peace, health, environment, education, longevity e.t.c.
2. this method does not give information regarding the distribution of income.
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rich or high income countries -
countries with the per capita income of US $1216 Per annum and above in 2012 are called rich countries.
Poor or low income countries- the countries with the per capita income of US $1035 or less, are called low income countries.
India comes in the category of low middle income countries because is per capita income in 2012, was just US $1530 per annum. the rich countries, excluding countries of Middle East and other small countries, are generally called the developed countries.
Limitations -
1. It covers only the economic aspects ignoring peace, health, environment, education, longevity e.t.c.
2. this method does not give information regarding the distribution of income.
HOPE THIS HELPS U
HAVE A GREAT DAY
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