Rename Hindu rate of growth as Nehru rate of growth

[Sakal Gharelu Ustad]

Don't you think that it is right time to rename the slow rate of growth seen by India in the first four decades after independence?

For those who do not know the term, here is wiki definition:

The Hindu rate of growth refers to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%.[1]

The word "Hindu" in the term was used by some early economists to imply that the Hindu outlook of fatalism and contentedness was responsible for the slow growth. The later economists attribute the rate to the Government of India's protectionist and interventionist policies (see Licence Raj), rather than to a specific religion or to the attitude of the adherents of a particular religion.

To be factually correct, this slow growth rate should now be named after the founding father of License Raj--i.e. Nehru rate of growth.

What do you think about this idea? Is it politically possible?

 

[Daredevil]

Excellent idea. All you need to do is push around this on twitter, facebook and other social media and people will catch the phrase because it is justified to call it so. Once it is endorsed by a journalist, it will be adopted by others and can become a new term to describe License Raj economic growth rate.

 

[Sakal Gharelu Ustad]

Excellent idea. All you need to do is push around this on twitter, facebook and other social media and people will catch the phrase because it is justified to call it so. Once it is endorsed by a journalist, it will be adopted by others and can become a new term to describe License Raj economic growth rate.

Thanks for the idea..I hope others on DFI will also help spread the message.

A nice idea for the new year.

 

[Daredevil]

Thanks for the idea..I hope others on DFI will also help spread the message.

A nice idea for the new year.

I posted on dfi's facebook page. Share the link on your facebook and twitter.

 

[Sakal Gharelu Ustad]

I posted on dfi's facebook page. Share the link on your facebook and twitter.

Thanks!!!!!!

 

[ant80]

I posted on dfi's facebook page. Share the link on your facebook and twitter.

I searched for defenseforumindia on FB. No result. Can someone post a link there please?

 

[civfanatic]

What do you think about this idea? Is it politically possible?

What exactly do you want to change politically? It's not like "Hindu rate of growth" is an official term or anything.

 

[Sakal Gharelu Ustad]

What exactly do you want to change politically? It's not like "Hindu rate of growth" is an official term or anything.

It is not just used colloquially but is used even officially sometimes. For eg. this term is frequently used in UPSC exams.

 

[civfanatic]

It is not just used colloquially but is used even officially sometimes. For eg. this term is frequently used in UPSC exams.

What is the context in which the term appears on these exams?

"Hindu rate of growth" is a term of historical importance (which is why Wiki has a page on it), and one must therefore be aware of its usage. But that does not mean the term has any sort of official sanction. Especially in the modern day, anyone using the term would look like an idiot.

 

[Sakal Gharelu Ustad]

What is the context in which the term appears on these exams?

"Hindu rate of growth" is a term of historical importance (which is why Wiki has a page on it), and one must therefore be aware of its usage. But that does not mean the term has any sort of official sanction. Especially in the modern day, anyone using the term would look like an idiot.

It is not just a term used in development economics curriculum but is widely used even in policy circles. Sad part is people still use it often but do not come out as idiots.

For eg. Look at this document from Planning Commission. Planning Commission, Government of India

Or generally in the press: Sonia’s UPA is taking us to new ‘Hindu’ rate of growth | Firstpost

 

[Singh]

I searched for defenseforumindia on FB. No result. Can someone post a link there please?

www.facebook.com/defenceforumindia

 

[civfanatic]

It is not just a term used in development economics curriculum but is widely used even in policy circles. Sad part is people still use it often but do not come out as idiots.

For eg. Look at this document from Planning Commission. Planning Commission, Government of India

Indeed, the usage of terms like "Hindu Rate of Growth" and "Bharatiya Rate of Growth" seems childish and unprofessional, but at least the disclaimer that the views expressed are personal is there at the bottom of the article. The government itself should not be sanctioning the usage of such terms.

Or generally in the press: Sonia's UPA is taking us to new 'Hindu' rate of growth | Firstpost

This article has some interesting information. It claims that the word "secular" in economics means a long-term trend, and so the usage of the term "Hindu" (opposite of "secular") in "Hindu rate of economics" was actually meant to poke fun at Nehru and his economic policies, since Nehru was a staunch secularist and would not like to associated with such a term. I don't know whether that's accurate or not, but it is interesting nonetheless.

 

[K Factor]

Congress/Nehru were responsible for largest economies in the world (1950) becoing one of the slowest in the world in 35-40 years. Nehru was educated in London where he was impressed by the socialist model and when he became prime minister, he pushed India down the path of state controlled industry with 5 year plans and state controlled steel manufacturing. PSUs were being propped up with benefits and subsidies to provide stable employment, draining the public exchequer of funds. These protectionist policies also had their impact on the Indian mindset. When the govt introduced reforms in early 90s, the Indian mindset had become so much stagnated with protectionism that local inefficient companies could not compete with foreign companies leading to events like these.
Attack on Cargill Seeds: ICE: Cargill v. India Case Study
Attack on KFC Bangalore: The Second Leg | Y.P. Rajesh

Here, there is another fact to consider - even after 30+ years of caste based reservation, the actual situation on the ground changed very little. Most of our esteemeted members are from urban areas and are not aware of the intricacies of it. The situation in UP and Bihar became such that street smart politicians such as Lalu Yadav, MS Yadav and Mayawati rose to power. The power behind these people was nothing other than caste politics and bahubalism. However, though they rose to power on the premise of caste based politics, it became all too obvious that corruption and scams were order of the day and the party with most criminals were the most powerful. Unless 2 of the largest and most populous states come on board, the economic growth of the country cannot be sustained. Here too, it was the failure of Nehru/Congress to be in touch with ground realities.

With the situation in Bihar improving slowly under Nitish Kumar, I am more hopeful. However, I do not see any positive vibes coming out of UP soon.

 

[Tianshan]

do different religions have different rates of economic growth?

this is news to me.

 

[K Factor]

do different religions have different rates of economic growth?
this is news to me.

Perhaps you need comprehension lessons?

The term was used because it was thought by some economists that the "Hindu" mentality of contentedness with one's current state caused the rate of growth to decay but it was later found to be Nehru/Congress' protectionist policies of rolling out red tape instead of red carpet to FDI/private venture industries that caused it.

 

[Tianshan]

Perhaps you need comprehension lessons?

The term was used because it was thought by some economists that the "Hindu" mentality of contentedness with one's current state caused the rate of growth to decay but it was later found to be Nehru/Congress' protectionist policies of rolling out red tape instead of red carpet to FDI/private venture industries that caused it.

i was being sarcastic obviously.

 

[Mad Indian]

Here, there is another fact to consider - even after 30+ years of caste based reservation, the actual situation on the ground changed very little. Most of our esteemeted members are from urban areas and are not aware of the intricacies of it.

Not even close to the actual ground reality!

 

[K Factor]

Not even close to the actual ground reality!

While OT, enlighten me please.

 

[Mad Indian]

While OT, enlighten me please.

You said this.

Here, there is another fact to consider - even after 30+ years of caste based reservation, the actual situation on the ground changed very little.

The real ground truth is that a lot has changed from Independance. I mean Shudras are not instantly killed for being in love with higher castes any more. Higher castes have become more tolerant . Yeah sure there are one or two isolated cases, but the violence as whole has come down!

 

[Bangalorean]

Excellent idea. All you need to do is push around this on twitter, facebook and other social media and people will catch the phrase because it is justified to call it so. Once it is endorsed by a journalist, it will be adopted by others and can become a new term to describe License Raj economic growth rate.

Thanks for the idea..I hope others on DFI will also help spread the message.

A nice idea for the new year.

If you observe my posts on DFI, you will see that I have been propagating and using this term for more than 1 year now. I call it the "NehruGandhi rate of growth". But no one seems to have picked it up so far. Hopefully after this thread, more people will begin using the term.