UPSC Economics People as Resource Question Bank Structure of Economy and Human Resources in India

  • question_answer
    Who coined the term 'Hindu rate of growth' for Indian Economy?

    A) A.K. Sen.                      

    B) Kint S. Parich

    C) Raj Krishna       

    D)        Montek Singh Ahluwalia

    Correct Answer: C

    Solution :

    The term was coined by Indian economist Raj Krishna. The Hindu rate of growth is a derogatory term referring to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from 1950s to 1980s. The word ?Hindu? implies that the Hindu outlook of fatalism and contentedness was responsible for the slow growth.


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