Question

critically examine the drain theory and its impact on indian economy in 100-150 words

Answer 1

Answer:

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Explanation:

The drain theory and it's impact on Indian economy are as follows:

Dadabhai Naoroji developed the ''Drain Theory'' for the first time.

There were three types of drain which includes the remittance to England of a proportion of salaries, the military expenditure and the remittances made in sterling. All these are its type.

In India, this caused poverty in India. The financial mechanism maintained the British rule, led to transfer of income from India to Britain, striking a 'bleeding drain' on the economy of India.

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Answer 2

Explanation:

refer to the attachment