In the context of discussions on India's economic performance before liberalisation, which Indian economist coined the term 'Hindu rate of growth' to describe the country's slow growth?

Introduction / Context:
The phrase Hindu rate of growth is frequently used in discussions of India's economic history, especially to describe the relatively low growth rates that prevailed before the economic reforms of 1991. Knowing who coined this term helps you understand the intellectual context of debates about India's development strategy. This question asks you to identify the economist who first used this expression to critique the country's slow pace of economic growth.

Given Data / Assumptions:

- The term is Hindu rate of growth.- It refers to India's slow economic growth in the decades before liberalisation.- Several well known Indian economists and policy experts are listed as options.- We assume familiarity with post independence economic debates.

Concept / Approach:
The term Hindu rate of growth was coined by Indian economist Raj Krishna in the late 1970s. He used it to characterise the long period during which India's gross domestic product (GDP) grew at around 3 to 3.5 percent per year, substantially lower than the growth achieved by many East Asian countries. The phrase was meant to be a critical comment on policy constraints and structural factors, not a religious statement. Although other economists like Amartya Sen, Montek Singh Ahluwalia and Kirit Parikh contributed deeply to discussions on India's economy, the specific phrase is attributed to Raj Krishna.

Step-by-Step Solution:
1. Recall that Hindu rate of growth describes India's historically low GDP growth rate before major reforms.2. Remember that this expression became popular in academic and policy circles after it was used by economist Raj Krishna.3. Identify that Amartya Sen is famous for work on welfare economics and human development, not for coining this phrase.4. Recognise that Montek Singh Ahluwalia and Kirit S. Parikh were key figures in planning and reform discussions, but the original phrase came from Raj Krishna.5. Select Raj Krishna as the correct answer.

Verification / Alternative check:
History of economic thought material and surveys of India's development experience consistently credit Raj Krishna with introducing the term Hindu rate of growth. These sources explain that he used the phrase to highlight the need for structural reforms and more dynamic policies. Later economists and commentators adopted the term widely, but they acknowledge its origin in Raj Krishna's critique. Checking multiple reliable sources confirms this attribution.

Why Other Options Are Wrong:
- Amartya Kumar Sen: a Nobel Prize winning economist known for contributions to welfare economics and capability approach, not for coining Hindu rate of growth.- Kirit S. Parikh: an important policy economist, but not credited with originating the phrase.- Montek Singh Ahluwalia: a key reform era policymaker, but again not the originator of this term.- Jagdish Bhagwati: an influential trade economist who has written on India, yet the expression is not attributed to him.

Common Pitfalls:
Because the term Hindu rate of growth is widely used in media and policy debates, some students mistakenly assume that a very famous public figure like Amartya Sen or a prominent planner like Montek Singh Ahluwalia must have coined it. Another pitfall is to misinterpret the term as a religious label rather than an economic criticism. To avoid confusion, remember two key facts: first, the phrase refers to low GDP growth around 3 to 3.5 percent, and second, it was coined by economist Raj Krishna in the 1970s. Keeping both points together fixes the concept clearly in your mind.

Final Answer:
The term Hindu rate of growth for India's slow economic growth was coined by economist Raj Krishna.