WBCS.LIVE practice question

The 'Hindu Rate of Growth', a term coined by Prof. Raj Krishna, strictly refers to the low historical growth rate of which economic variable?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Population growth rate
  2. Gross Domestic Product (GDP)
  3. Per Capita Income
  4. Industrial Production Index

Correct answer and explanation

Correct answer: Gross Domestic Product (GDP)

Explanation: āœ… Correct Answer: B) Gross Domestic Product (GDP) šŸ“š Explanation: The 'Hindu Rate of Growth' is a somewhat derogatory economic term coined by the prominent Indian economist Prof. Raj Krishna in 1978. It specifically refers to the consistently low and stagnant annual growth rate of the Indian Gross Domestic Product (GDP), which hovered around 3.5% from the 1950s to the 1980s. This sluggish growth was heavily attributed to the restrictive socialist policies and the stifling "License Raj" of that era.