Click here to subscribeDear Readers,On Sunday, PTI reported that former Reserve Bank of India Governor Raghuram Rajan feels India is “dangerously close” to the “Hindu rate of growth”. But the GDP growth rate data suggests that India started growing faster than the Hindu rate of 3.5% long before the crisis and reforms of 1991. To buttress his claim he points out that the GDP growth rate between 1976 and 2006 averaged 5.6% — well above the Hindu rate of growth. As things stand today, India is still far from the 3.5% level that is associated with the Hindu rate of growth. If that happens, labelling it as “dangerously close” to the old Hindu rate of growth or simply designating it as the “new Hindu rate” of growth is a personal choice.

Source: The Hindu March 06, 2023 07:19 UTC