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unit-4-planning,-governance-and-institutions

Unit-4 Planning, Governance and Institutions

This unit outlines the growth performance in each plan, the shifts in plan priorities and strategies, and the shifts in major economic policies leading to the present regime of economic reforms with a central place to market induced investment and growth.

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Which is the period of ‘Hindu growth rate’ and why is it called so? 

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Learning Pundits Content Team

Written on Jun 26, 2019 2:54:49 PM

During the first thirty years of planning (1951-1980), i.e. up to the Sixth Plan, the growth performance of the economy was far below expectations, averaging about 3.5 per cent annual growth rate in GDP.

With over 2 per cent growth rate of population, this period experienced about 1.5 per cent annual growth rate in per capita income.

The period between 1951 and 1980 became synonymous for slow growth. Whatever the Plan targets, the realised growth rate turned out to be a low growth of 3.5%, so much so, that it began to be connotated as a period of ‘Hindu growth rate’.