The term “Hindu rate of growth” refers to the 3.70% per annum growth rate achieved by the Indian economy over the first six Five -Year Plans” The term was coined by:
Options:
A . K.N. Raj
B . Raj Krishna
C . J.N. Bhagwati
D . Sukhamoy Chakravarty
Answer: Option B Answer: (b)The Hindu rate of growth is a derogatory term referring to the low annual growth rate of the planned economy of India before the liberalizations of 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 Krishna.
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