Question

drain of wealth in short note

Answer 1

HISTORY AND GENERAL STUDIES The drain of wealth was the portion of India's wealth and economy that was not available to Indians. In 1867, Dadabhai Naoroji put forward the 'drain of wealth' theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India.




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Answer 2

hey mate...
here is ur answer..

Our system acts very much like a sponge,drawing all good things from the banks of Ganges ,and squeezing them down on the banks of Thames

This remark of John Suvillian ,President of board of revenue,Madras best explains the drain of wealth theory

Even the worst of the foreign rulers used their revenue to build roads,irrigation facilities,in wars and in worst case scenarios on their personal luxuries. It ultimately encouraged Indian trade and created employment within India.This is because all these foreign rulers settled in India itself and made it their homes

However the British remained foreigners forever. They sent almost all their wealth gathered here through taxes,remittances etc ,back to England.The company even used this wealth to buy it’s exports from India.This deprived India even from the rightful returns that it deserved from its exports.

Thus , the wealth of our country being spent without India gaining anything out of this expenditure is popularly described as the drain of wealth

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