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How come some countries are generally called developed and others undeveloped

Posted by Soniya Kushwaha 6 years, 6 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 6 years, 6 months ago

The average or per capita income is the main criterion for comparing a developed country with an underdeveloped one. Countries with per capita income of Rs 4,53,000 per annum and above in 2004 are called high-income countries, and countries with per capita income of Rs 37,000 or less are called low-income countries. In 2004, India was considered a low-income country because its per capita income was just Rs 28,000. In 2006, the World Development Report to classify countries was based on the average income criterion.

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CBSE > Class 10 > Social Science