About Hindu Rate of Growth:
- It is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4%.
- The term was coined by the late economist Raj Krishna in 1978 to describe the slow growth in the country.
What is Gross Domestic Product (GDP)?
- GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year.
- The GDP growth rate is an important indicator of the economic performance of a country.
- It can be measured by three methods, namely, Output Method, Expenditure Method, and Income Method
