{"id":93590,"date":"2025-06-01T11:53:19","date_gmt":"2025-06-01T11:53:19","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=93590"},"modified":"2025-06-01T11:53:19","modified_gmt":"2025-06-01T11:53:19","slug":"what-is-the-current-status-of-indias-economy-in-terms-of-market-class","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/what-is-the-current-status-of-indias-economy-in-terms-of-market-class\/","title":{"rendered":"What is the current status of India’s economy in terms of market class"},"content":{"rendered":"

What is the current status of India’s economy in terms of market classification by the World Bank and the International Monetary Fund?<\/p>\n

[amp_mcq option1=”Low-income economy” option2=”Middle-income economy” option3=”High-income economy” option4=”Upper-middle-income economy” correct=”option2″]<\/p>\n

\n
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This question was previously asked in<\/div>\n
UPSC Combined Section Officer – 2019-20<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nIndia is classified as a middle-income economy by the World Bank.
\n<\/section>\n
\nThe World Bank classifies economies based on Gross National Income (GNI) per capita. As of the latest classification (updated July 1, 2023, based on 2022 GNI), India falls into the lower-middle-income group. The broad categories are low-income, middle-income (which includes lower-middle and upper-middle), and high-income economies. Therefore, ‘Middle-income economy’ is the correct broad classification among the given options.
\n<\/section>\n
\nThe income classifications by the World Bank are used for analytical purposes and do not imply any specific development stage. The thresholds are updated annually to account for inflation and other factors. The International Monetary Fund (IMF) also uses similar categorizations, often classifying countries as advanced economies, emerging market and developing economies. India is typically included in the latter category, consistent with being a middle-income country by World Bank standards.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

What is the current status of India’s economy in terms of market classification by the World Bank and the International Monetary Fund? [amp_mcq option1=”Low-income economy” option2=”Middle-income economy” option3=”High-income economy” option4=”Upper-middle-income economy” correct=”option2″] This question was previously asked in UPSC Combined Section Officer – 2019-20 Download PDFAttempt Online India is classified as a middle-income economy by … <\/p>\n

Detailed SolutionWhat is the current status of India’s economy in terms of market class<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1090],"tags":[1483,1120,1261],"class_list":["post-93590","post","type-post","status-publish","format-standard","hentry","category-upsc-combined-section-officer","tag-2019-20","tag-economic-development","tag-nature-of-indian-economy","no-featured-image-padding"],"yoast_head":"\nWhat is the current status of India's economy in terms of market class<\/title>\n<meta name=\"description\" content=\"India is classified as a middle-income economy by the World Bank. The World Bank classifies economies based on Gross National Income (GNI) per capita. As of the latest classification (updated July 1, 2023, based on 2022 GNI), India falls into the lower-middle-income group. The broad categories are low-income, middle-income (which includes lower-middle and upper-middle), and high-income economies. Therefore, 'Middle-income economy' is the correct broad classification among the given options.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/what-is-the-current-status-of-indias-economy-in-terms-of-market-class\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the current status of India's economy in terms of market class\" \/>\n<meta property=\"og:description\" content=\"India is classified as a middle-income economy by the World Bank. The World Bank classifies economies based on Gross National Income (GNI) per capita. As of the latest classification (updated July 1, 2023, based on 2022 GNI), India falls into the lower-middle-income group. The broad categories are low-income, middle-income (which includes lower-middle and upper-middle), and high-income economies. 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