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World Bank’s Country Classification
July 7 , 2020
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- Every year, the World Bank classifies countries into four income groups - (i) Low (ii) Lower-Middle (iii) Upper-Middle (iv) High Income.
- World Bank is using the Atlas Method since 1993 to estimate the size of an economy.
- Under the Atlas Method, Gross National Income (GNI) of a country is converted into the current U.S. Dollars.
- As per the 2020 Classification, India remains a Lower-Middle Income country.
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