Question

Explain the reasons for the underdevelopment, backwardness and stagnancy of the economy of India during the British period.

Answer 1

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As per arguments of the British economists, the backwardness and lack of modernisation of Indian economy were mainly due to the existence of value system, i.e., spiritualism, asceticism, joint family system, the caste system and also due to shyness of capital in India.

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Answer 2

Answer:

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