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In the context of Indian economy, the Hindu rate of growth is referred to as :
The rapid rate of growth of the Indian economy post 1991 economic reforms.
The sluggish rate of growth of the Indian economy before the 1991 economic reforms.
The hypothetical rate of growth assuming manufacturing sector as reforms the largest contributor to the GDP.
The maximum possible rate of growth of the Indian economy in keeping with its natural resource base.
The term 'Hindu growth rate' was coined by late economist Raj Krishna in 1978 to describe the slow growth in the country. It basically refers to the low pace of economic growth rates during 1950s to 1980s. During this period, the Indian economy averaged 3.5%. In short , it is the term refers to the low annual growth rate of the planned economy of India before liberalization of the economy. It takes into account the GDP growth of the country. Hence option 2nd is correct.
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