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Mumbai: India continues to be a lower-middle-income country along with 46 others, while Sri Lanka has climbed to the upper-middle-income group for the fiscal year (FY) 2020, according to the World Bank’s classification of countries by income levels, released on July 1, 2019.
Sri Lanka entered the lower-middle-income group in FY 1999, from the low-income category and continued for over two decades, before moving to the upper-middle-income group this year, the data show. India became a lower-middle-income nation from low-income in FY 2009.
The World Bank classifies economies based on gross national income (GNI) per capita
