Question

discuss various aspects of the drain of wealth?

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Answer 1

During the last quarter of the 19th century a great controversy arose over the question of ‘The Drain’ between the nationalist leaders of India and the Protagonists of Britain. Indian nationalist thinkers developed the theory of Drain mainly for analysing main cause of poverty in India.
Dadabhai Naoroji in his book observed, “The drain consists of two elements the first, arising from the remittances by European Officials of their savings, and for their expenditure in England for their various wants both there and in India ; from pensions and salaries paid in England; and the second that arising from remittances by non-official Europeans.”

This indicates that in order to meet the requirements of the economic drain, India had to export much as compared to its imports.

Answer 2

Answer:

Explanation: Firstly,money was sent from India to England to pay salary to the officers of East India Company stationed in England. Secondly,as per the provision of the charter1733,the share holders of the East India Company were to receive from India an annual sum of 6,00,000 pound was taken by them.