- Hindu rate of growth
Hindu rate of growth was a controversial expression used to refer to the low annual
growth rate of theeconomy of India , which stagnated around 3.5% from1950s to1980s . The term, was coined byIndia neconomist Raj Krishna .The term 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 non-HinduAsia n countries, especially theEast Asian Tigers , which were also newly independent. This meaning of the term, popularised byRobert McNamara , was used disparagingly and has connotations that refer to the supposed Hindu outlook offatalism and contentedness Fact|date=January 2008. However as noted journalistArun Shourie has pointed (see quote below) out the so called Hindu rate of growth was a result of socialist policies implemented by staunch secular governments and had nothing to do withHinduism ....because of those very socialist policies that their kind had swallowed and imposed on the country, our growth was held down to 3-4 per cent, it was dubbed — with much glee — as ‘the Hindu rate of growth’. [http://www.indianexpress.com/story/254969.html]
The economy of India has been growing at rate of around 6-8% since the pro-business economic reforms of the 1980s and the economic liberalisation of 1990s.
External links
* [http://www.thehindubusinessline.com/2004/06/10/stories/2004061000141000.htm "The power of ideas", The Hindu Business Line, June 10, 2004]
* [http://www.pbs.org/wgbh/commandingheights/shared/minitextlo/int_meghnaddesai.html Hindu rate of growth] - An explanation byMeghnad Desai
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