Central Idea
- A popular orator and a Parliamentarian, introduced the term “Hindutva rate of GDP growth” during the discussion.
- This term is distinct from the ‘Hindu rate of growth’, a phrase coined by economist Raj Krishna in 1982 to describe India’s modest growth rate of 3.5%.
Understanding the ‘Hindutva Rate of Growth’
- Argument: The MP attributed India’s recent economic growth, including a 6.3% GDP growth rate, to the policies of Prime Minister Narendra Modi, aligning spending with ‘Dharma (the order)’.
- Historical and Religious Context: He linked economic transformations to key events in India’s history, including the Ram Temple movement and the Supreme Court’s Babri Masjid judgment.
Comparative Analysis of Growth Rates
- Per Capita Income Disparity: Despite high GDP growth rates, India’s per capita income remains low compared to developed countries.
- Post-Covid Growth Calculation: 7.8% ‘Hindutva rate of growth’ refers to the average GDP growth post-Covid, excluding the year of the pandemic.
- Comparison with ‘Hindu Rate of Growth’: Including the Covid year in calculations, the growth rate closely resembles the criticized ‘Hindu rate of growth’.
Economic Growth during Different Governments
- Growth under Modi vs. UPA: The average GDP growth rate under PM Modi is 5.8%, compared to 6.8% under the Congress-led UPA.
- Impact of Global Crises: Both governments faced major global crises, with the UPA dealing with the Global Financial Crisis and the Modi government facing the Covid-19 pandemic.
- Historical Growth Trends: Comparing growth rates across different eras, including PM Vajpayee’s and PM Narasimha Rao’s tenures, provides a broader perspective on India’s economic trajectory.
Conclusion
- Similarity to Historical Growth Rates: The ‘Hindutva rate of growth’ closely aligns with historical growth rates, challenging its portrayal as a significant departure from the past.
- Electoral Implications: The discussion raises questions about the role of economic performance in India’s electoral politics, especially in the context of the BJP’s focus on ‘Hindutva’.
