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Today General Knowledge(GK)
Who coined the term ‘Hindu rate of growth’ for Indian economy?
A)
Raj Krishna
B)
A.K. Sen
C)
Kirit S. Parikh
D)
Montek Singh Ahluwalia

Correct Answer : Option (A) - Raj Krishna



The Hindu rate of growth refers to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%. The term was coined by Indian economist Raj Krishnaa. It suggests that the low growth rate of India, a country with a high Hindu population was in a sharp contrast to high growth rates in other Asian countries, especially the East Asian Tigers, which were also newly independent. This meaning of the term, popularised by Robert McNamara, was used disparagingly and has connotations that refer to the supposed Hindu outlook of fatalism and contentedness.

Published On : June 26, 2021
Category : Indian Economy
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