New Delhi: The World Bank has dropped the use of developing nation tag for India in its specialized reports and instead classifies it as a "lower-middle-income" economy in South Asia, a top official has said.

"In our World Development Indicators publication, we've stopped grouping low- and middle-income countries together as 'developing countries'. For analytical purposes, India continues to be classified as lower-middle-income economy," World Bank Data Scientist Tariq Khokhar.

"We are not changing term 'developing countries' or 'developing world' in our general work but when it comes to presenting specialized data, we will use more precise groupings of countries," Khokhar said in an e-mail interview, adding, the term developing country was no more useful for analytical purposes.

Accordingly, while India will be referred to as a lower-middle-income economy in all of World Bank's analytical reports, it may be referred to as a developing country only in some of the generic communications.

confuzzled dude wrote:

New Delhi: The World Bank has dropped the use of developing nation tag for India in its specialized reports and instead classifies it as a "lower-middle-income" economy in South Asia, a top official has said.

"In our World Development Indicators publication, we've stopped grouping low- and middle-income countries together as 'developing countries'. For analytical purposes, India continues to be classified as lower-middle-income economy," World Bank Data Scientist Tariq Khokhar.

"We are not changing term 'developing countries' or 'developing world' in our general work but when it comes to presenting specialized data, we will use more precise groupings of countries," Khokhar said in an e-mail interview, adding, the term developing country was no more useful for analytical purposes.

Accordingly, while India will be referred to as a lower-middle-income economy in all of World Bank's analytical reports, it may be referred to as a developing country only in some of the generic communications.

http://www.firstpost.com/business/india-is-not-a-developing-but-alower-middle-income-economy-says-world-bank-2815134.html

Kayalvizhi wrote:If Tamilnadu were an independent country it would be "upper middle class economy"

"India would have registered higher growth rates if it had comprised only what are now its southern and western parts...The rest of the country held the South and West back...", so said P. Chidamparam, former Minister of Finance of India (2004-2008) to the American Ambassador Timothy Roemer in August 2009. Chidamparam concluded that India could achieve 11-12 per cent growth if it were the South and West only, noting that the rest of the country held it back.” (The Hindu newspaper; March 23, 2011).

More information on Tamil Nadu is paying an economic price as part of India
http://www.tamiltribune.com/economy/index.html