World Bank Report on Per Capita Income
World Bank Report on Per Capita Income
World Bank Report on Per Capita Income: World Bank publishes World Development Report (WDR) every year with a comparing note for all the nations on the basis of per capita income. World Development Report 2012, defines countries as rich and lower income country through range and extent of Per Capita Income (PCI). The bank has classified the countries as follows
(i) Countries with PCI of US $ 12,616 or more are termed as rich countries.
(ii) Countries with PCI of US $1035 or less are termed as low income countries.
In 2012, India’s per capita income was only about US $ 1530 per annum and it was classified as a low middle income country. The rich countries, except countries of the Middle-East and some small countries, are also called developed countries whereas lower income countries are called underdeveloped countries.
Income and other criteria: The development level of nations or regions should be judged on the basis of other attributes beside income. To understand this, let’s take a comparative analysis of three states: Maharashtra, Kerala and Bihar from various aspects.Source: Economic Survey 2013-14From comparative table, various aspects of developments can be concluded as follow:(i) Per Capita Income (PCI) in regard to states are calculated as Per Capita Net State Domestic Product (PCNSDP). Per capita income in Maharashtra, is highest and in Bihar, it is lowest, that indicates employment status and scope of earning is quite less in Bihar.(ii) Kerala has the least IMR whereas Bihar has maximum Infant Mortality Rate (IMR). High IMR implies that healthcare facility is poor and high per capita income does not guarantee for better healthcare facilities.Maharashtra has higher PCI than Kerala, but has almost 2 times more IMR, it is concluded that health services are poor in Maharashtra. As PCI is low and IMR is high in Bihar, poverty is clearly visible in Bihar. IMR also influences life expectancy at birth.(iii) Kerala has the highest literacy rate, but Bihar has the lowest. It means, more children in Bihar are away from education because of poverty and lack of educational facilities. Maharashtra is lagging behind in education though it has higher PCI.(iv) Enrolment Ratio or Net Attendance Ratio is highest in Kerala, but lowest in Bihar. The percentage of net attendance ratio is all three states is low, which implies clear dropout. These aspects indicate that per capita income is not the best criteria to decide development, but other basic facilities and quality of life also matter much and must be properly counted for development.
The main criterion used by the World Bank in classifying different countries as developed and under- developed is _______________ | |||
| Right Option : A | |||
| View Explanation | |||
Infant mortality rate indicates the number of children that did as a proportion of 1000 live children born in that particular year in which of the following age groups? | |||
| Right Option : C | |||
| View Explanation | |||
Assume therea are four families in a country. The average per capita income of these families is Rs 5,000. If the income of these families is Rs 4,000, Rs 7,000 and Rs 3,000 respectively. What is the income of the fourthg family ?
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| Right Option : D | |||
| View Explanation | |||
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