Claim: News clip stating World Bank has removed the developing nation tag of India.
Fact-check: News report stating World Bank stripped India of developing country tag is from 2016 - FACTLY
Verdict: this is an old news which dates back to 2016, when the world bank changed the nomenclature of classification of countries. world bank stopped categorising countries as developed and developing countries. instead world bank started grouping countries based on the per capita income into low income economies, lower middle income economies, upper middle income economies, and high income economies. india with per capita income of $1920 is placed under the lower middle income economies for the fiscal year 2022. this old report is misconstrued as recent. hence the claim made in the post is misleading.
Organisation: FACTLY
Author: Chaitanya
Date published: 2022-04-19T10:44:43