Who introduced the term ‘Hindu rate of growth’?
Raj Krishna
The term ‘Hindu rate of growth’ was introduced by Raj Krishna. This term refers to the low annual growth rate of the Indian economy, which was around 3.5% from the 1950s to the 1980s. This phrase was coined to highlight the sluggish growth compared to other dynamic Asian economies at that time. As an economist, Raj Krishna used this term to express his concern about the slow progress India was making during a period when it was expected to achieve higher growth rates following its independence. Overall, the term reflects a critical view of India's economic performance during the pre-liberalization era, and it has been an important concept in understanding the historical context of India's economic development.
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