India Is A Lower-Middle-Income Economy: A World Bank Classification
- The World Bank has released its annual classification (for 2020-21) of countries according to their income levels.
- Indiaremains in the classification as Lower-Middle-Income Economy.
- The World Bank categorises the World's economies into four income groups low, lower-middle, upper-middle and high-income countries.
- The classifications are updated each year on July 1 and are based on Gross National Income(GNI) per capita in current USD(using the Atlas method exchange rates) of the previous year.