Is former Reserve Bank of India (RBI) governor Raghuram Rajan right in his assessment that India's economy is “dangerously close” to the Hindu rate of growth (see box: What is ‘Hindu’ rate of growth)?
According to the International Monetary Fund (IMF), India will be the world’s fastest growing large economy in 2022-23 and along with China, it will constitute half of the world's growth next year.
Rajan based his assessment on the quarterly gross domestic product (GDP) data released by the National Statistics Office, which showed that the economy grew just 4.4 per cent during October-December of the current financial