The term ” Hindu Rate of Growth” is a derogatory term coined for the low rate of growth in India during the first 3 decades after Independence which was primarily due to the faulty economic policy by the Congress during the 50’s and 60’s on the base of Socialism. It should actually have been called the “Socialist Rate of Growth”.
The term was coined by economist Raj Krishna. This meaning of the term, popularised by Robert McNamara, was used disparagingly and has connotations that refer to the supposed Hindu outlook of fatalism and contentedness.
Two renowned personalities who have challenged this false meaning attributed to “Hindu Rate of Growth” and proposed the correct view are Sri S.Gurumurthy and Sri Arun Shourie.
Arun Shourie pointed out that the so called Socialist rate of growth was a result of socialist policies implemented by staunch secular governments and had nothing to do with Hinduism. He says
It has almost become routine to slight Hindu sentiments — our smart-set do not even notice the slights they administer. Recall the jibe of decades: ‘the Hindu rate of growth’. When, because of those very socialist policies that their kind had swallowed and imposed on the country, our growth was held down to 3-4 per cent, it was dubbed — with much glee — as ‘the Hindu rate of growth’. Today, we are growing at 9 per cent. And, if you are to believe the nonsense in Sachar’s report, the minorities are not growing at all. So, who is responsible for this higher rate of growth? The Hindus! How come no one calls this higher rate of growth ‘the Hindu rate of growth’? Simple: dubbing the low rate as the Hindu one established you to be secular; not acknowledging the higher one as the Hindu rate establishes you to be secular! “. —Arun Shourie
S Gurumurthy states that it is the Colonial and Socialist rate of growth which has been misleadingly named as ‘Hindu Rate of Growth’. He states that Hindu India was leading World Economy for 18 Centuries in CE. Do visit this very insightful speech for more information on this by Sri Gurumurthy. http://www.youtube.com/watch?v=S9-UWbsvMf8
Bharat’s children must rebuke any attempt to defame the philosophy of this great land and must expose the hand of British and the faulty policies driven by Pt.Nehru and the Congress.
Update in Jan 2014 :
Unfortunately, the country is once again witnessing a phase where some educated sections are being be-fooled by “socialist politicians” who have come in under the garb of an anti-corruption crusade”.