Can India escape middle-income trap?
Why in the News? The World Development Report 2024 highlights the “middle-income trap,” where economies stagnate as growth slows. Only 34 middle-income nations advanced to high-income status in 34 years. How does the World Bank define the threshold for middle-income economies? The World Bank defines middle-income economies as those with incomes between $1,136 and $13,845… Continue reading Can India escape middle-income trap?