Question

How did British Siphon off india's wealth?​

Answer 1

Explanation:

Britain ruled India for about 200 years, a period that was marred with extreme poverty and famine. India's wealth depleted in these two centuries. Renowned economist Utsa Patnaik, who has done a research on the fiscal relations between Colonial India and Britain, has tried to answer a question many Indians are likely to be interested to know -- how much money did Britishers take away from India? Patnaik, in her essay published in Columbia University Press recently, said Britain drained out over $45 trillion from India, which to date has hampered the country's ability to come out of poverty.

Patnaik said the scars of colonisation remain despite Britain leaving India over 70 years ago. "Between 1765 and 1938, the drain amounted to 9.2 trillion pounds ($45 trillion), taking India's export surplus earnings as the measure, and compounding it at a 5 per cent rate of interest," Patnaik said during an interview with Mint.

Answer 2

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Britain ruled India for about 200 years, a period that was marred with extreme poverty and famine. India's wealth depleted in these two centuries. Renowned economist Utsa Patnaik, who has done a research on the fiscal relations between Colonial India and Britain, has tried to answer a question many Indians are likely to be interested to know -- how much money did Britishers take away from India? Patnaik, in her essay published in Columbia University Press recently, said Britain drained out over $45 trillion from India, which to date has hampered the country's ability to come out of poverty.

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