LiveMint | 25/05/2022 12:01 AM | Click to read full article
India is currently what the World Bank describes as a lower middle income country. The average income of an Indian was $1,935 in 2020. The International Monetary Fund (IMF) now estimates that number will go up to $3,769 in 2027.
This means that per capita income in India is expected to cross $4,000 towards the end of the decade. India will thus be on the cusp of becoming an upper middle income country.