Which category does India come under?

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High-income countries

Low-income countries

Low middle-income countries

High middle-income countries

answer is C.

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Detailed Solution

India comes under low-middle-income countries.
The nations with a per capita income of US $12,056 per annum or above in 2017 are called rich countries. The nations with a per capita income of US $955 per annum or less in 2017 are called low-income countries. Since it is seen that India has an annual per capita income of US$ 1820 or less, it can be classified as a low-middle-income country that is on its way to development. Per capita income refers to the total income of the country divided by its total population. It is one of the parameters used by the World Bank to compare the development of the countries. It is also known as the average income of the country. A country with a high per capita income shows that it has earnings that are higher than the average and that it is a developed country.

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