Question

Explain the World Development Report brought out by the World Bank in 2013.

Answer 1

World Development Report brought out by the World Bank in 2013 classified the countries into 3 groups.

1. Countries with per capita income of US $ 12,600 and above per annum in 2012 are called high-income countries or rich countries,
2. Countries with a per capita income of above US $1,035 and below the US $ 12,600 per annum in 2012 are called middle-income countries.
3. Countries with a per capita income of US $1,035 or less per annum in 2012 are called low-income countries.