it appears that the financial condition of people was good in the cities of ancient India?
Answers
Answer:India was the one of the largest economies in the world , for about two and a half millennia starting around the end of 1st millennium BC and ending around the beginning of British rule in India.[1]
Around 500 BC, the Mahajanapadas minted punch-marked silver coins. The period was marked by intensive trade activity and urban development. By 300 BC, the Maurya Empire had united most of the Indian subcontinent except Tamilakam, which was ruled by Three Crowned Kings, who were allies of Mauryas. The resulting political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity.
The Maurya Empire was followed by classical and early medieval kingdoms, including the Cholas, Pandyas, Cheras, Guptas, Western Gangas, Harsha, Palas, Rashtrakutas and Hoysalas. The Indian subcontinent had the largest economy of any region in the world for most of the interval between the 1st century and 18th century.[2][3][4][5] Though it is to be noted that, up until 1000 AD,its GDP per capita was higher than subsistence level.[6]
India experienced per-capita GDP growth in the high medieval era during the gupta empire and, during the Delhi Sultanate in the north and Vijayanagara Empire in the south. By the late 17th century, most of the Indian subcontinent had been reunited under the Mughal Empire, which became the largest economy and manufacturing power in the world, producing about a quarter of global GDP, before fragmenting and being conquered over the next century.[7] Bengal Subah, the empire's wealthiest province, that solely accounted for 40% of Dutch imports outside the west,[8] had an advanced, productive agriculture, textile manufacturing and shipbuilding, in a period of proto-industrialization.[9][10][11]
By the 18th century, the Mysoreans had embarked on an ambitious economic development program that established the Kingdom of Mysore as a major economic power. Sivramkrishna analyzing agricultural surveys conducted in Mysore by Francis Buchanan in 1800-1801, arrived at estimates, using "subsistence basket", that aggregated millet income could be almost five times subsistence level.[12] The Maratha Empire also managed an effective administration and tax collection policy throughout the core areas under its control and extracted chauth from vassal states.[13]
India experienced deindustrialisation and cessation of various craft industries under British rule,[14] which along with fast economic and population growth in the Western world, resulted in India's share of the world economy declining from 24.4% in 1700 to 4.2% in 1950,[15] and its share of global industrial output declining from 25% in 1750 to 2% in 1900.[14] Due to its ancient history as a trading zone and later its colonial status, colonial India remained economically integrated with the world, with high levels of trade, investment and migration.[16]
The Republic of India, founded in 1947, adopted central planning for most of its independent history, with extensive public ownership, regulation, red tape and trade barriers.[17][18] After the 1991 economic crisis, the central government began policy of economic liberalisation.
Explanation:
Answer:
Most people in ancient India were farmers. That's the same as in other parts of Asia and Europe at this time. In India, farmers mainly grew wheat and rice. They grew cotton for cloth.