Question
In the pre-1991 Indian economy, the “Hindu rate of
growth” primarily reflected:Solution
• The term “Hindu rate of growth” (coined by Raj Krishna) referred to low GDP growth of about 3.5% from the 1950s-80s. • Causes included license-permit-quota controls, protectionism, and state-led capital allocation that discouraged productivity and competition. • Liberalization in the 1990s broke this structural stagnation.
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