question_answer

Consider the following statement in regards to Low per capita Income:

1. India is developing economy

2. India's per capita income level is higher as compared with other developed countries

3. According to World Development Report (2011) India's per capita income was US  1499 in 2014

4. India?s per capita income falls in category of Lower Middle Income Countries (LMC)

Which of the statements given above is/are correct?

A) 1 and 2            

B) 1. 2 and 3

C) 1, 2 and 4         

D) 1, 3 and 4

Correct Answer: D

Solution :

India is developing economy. Its per capita income level is much low as compared with other developed countries. According to World Development Report (2011) India's per capita income was US  1499 in 2014. The per capita income in United States is US S 47240 and hence India's per capita income is about 1/40 of US level of per capita. The per capita income of 2015 has increased by 10.1 %, (as compared to 2014) as stated by Minister of State for Statistics and Programme Implementation Gen. V K Singh. The national income in 2014-15 stood at Rs.11, 217, 079 crore. With the mentioned per capita income India falls in category of Lower Middle Income Countries (LMC)