Question

Briefly narrate the economic condition of india during british period ?

Answer 1

The Indian economy under the British Raj describes the economy of India during the years of the British Raj, from 1858 to 1947. ... From 1850 to 1947 India's GDP in 1990 international dollars grew from $125.7 billion to $213.7 billion, a 70% increase or an average annual growth rate of 0.55%.

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Answer 2

Answer:

India was rich in economy, culture and polity. But it was due to advent of foreigners that it gradually got pushed into backwardness. This is what is believed by most of the Indian national scholars. However, most British scholars attribute economic stagnation during the British period to: over population, religion, caste, social attitude, value system and other social institutions. Their approach is called as colonial approach (Knowles, 1928; Anstey, 1952).

On the other hand, nationalist scholars (Sarkar, 1985; Naoroji, 1901 and 1996; Chandra, 1981; Dutt, 1970; Ambedkar, 1925) rejected the explanation of British administrators and writers of colonial schools with regard to India’s economic underdevelopment, and strongly argued with logical explanations and evidences that the economic policies of the British rule in India were primarily responsible for the country’s economic backwardness. According to these scholars, the British rulers of India consciously shattered the country’s economy, appro­priated her wealth and drained it out to England and created all possible obstacles to its development.