Why slow growth is called Hindu rate of growth?

Описание: 1991 economic reforms    • How Manmohan Singh saved India in 1991 | I...  
Where I get such content?
Amazon prime documentaries https://tinyurl.com/tccprime
I listen to audible audiobooks: https://amzn.to/3GKQ09C
Amazing stories on KUKU FM: https://kukufm.page.link/wDKLg7MJkCnP...

More such Interesting Videos: https://tinyurl.com/2p8w7n2w
Interesting Shorts: https://tinyurl.com/tccshorts

Follow on Instagram: Instagram.com/thecuriouscobra
Follow on Facebook: facebook.com/thecuriouscobra
_________________________
Former Governor of Reserve Bank of India Raghuram Rajan recently commented that India is dangerously close to the “Hindu rate of growth” as the country sees limited investment in private sector, high interest rates, and decreasing global growth.
This is a rather disparaging term used by Professor Raj Krishna, an Indian economist in 1978 to describe the slow growth in India. The average annual GDP growth in India between 1960 and 1980 was just 3.55 per cent, according to World Bank data.

Raj Krishna was trying to link the Hindu philosophy of being minimalistic, non-competitive, and content, with the growth rate. While other advanced nations were trying to boost growth through capitalist policies, India’s policies in the pre-1980 era had a socialist slant which put public welfare above growth.
#tccshorts #hindurateofgrowth