The pattern and causes of economic growth in India

Abstract

2 Hindu rate of growth is the tongue-in-cheek expression, coined by the Indian economist, the late Raj Krishna, to capture the frustrations India's planners faced with growth. No matter what they did, growth seemed, invariably, to revert back to 3.5% per annum, almost as if this magic figure was written in the land's scriptures. The possibility of Hinduism having something to do with economic growth was earlier suggested by B.P. R. Vithal.