How do you prove the fact that the Indian economy was a stagnant economy on he Eve of independence
Answers
Answer:At the time of independence Indian economy was a backward and stagnant economy. Estimates by various economists show that during the British rule per capita real income was not only very low but also stagnant. Judged in the terms of low per capita income Indian economy remained more or less a stagnant economy during the colonial rule.
The Indian economy was sinking in poverty during the colonial rule , per capita consumption was very low resulting in a low standard of living. People could hardly get their basic amenities such as food clothing and education. One of indicators of a backward economy is high death and birth rates, During the British period both birth rates and death rates were very high . backwardness of the Indian economy was reflected in many social and cultural facets such as caste system, unscientific outlook, and illiteracy.
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