How can we classify countries as …

The World Development Report, 2012, brought out by the World Bank has given the following criteria in classifying countries :
(I) Rich or High income countries : Countries with the per capita income of US $12276 per annum and above in 2010, are called rich countries.
(ii) Poor or Low income countries: The countries with the per capita income of US $ 1005 or less, are called low income countries.
India comes in the category of low middle income countries because its per capita income in 2010 was just US $ 1340.4 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called the developed countries.

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