plz explain d meaning of this sentence:
Drainage of India's Wealth to Britain
The British never thought India to be their home, nor did they ever try to settle
here permanently. In such a situation, how could they ever have loved India
and the Indians? As such, their main objective was always the economic
exploitation of India. They used the following methods for draining the wealth
of India:
Answers
Explanation:
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The Drain: Meaning, Causes, and Consequence | Indian Economy
Article Shared by Natasha Kwatiah
In this article we will discuss about the Drain. After reading this article you will learn about: 1. Meaning of the Drain 2. Causes of the Drain 3. Estimate 4. Consequence 5. Effects on England 6. Effects on India 7. Methods of Reducing the Drain.
Meaning of the Drain:
During the last quarter of the 19th century a great controversy arose over the question of ‘The Drain’ between the nationalist leaders of India and the Protagonists of Britain. Indian nationalist thinkers developed the theory of Drain mainly for analysing main cause of poverty in India.
The main agreement that was advanced in this respect was that “a significant portion of India’s national wealth was transferred to England without any quid pro quo.” The experts described such ‘Drain’ on India’s resources as the transfer of resources from India to England either by getting nothing in return or getting only disproportionately a smaller part of such transfer of resources.
The person who first raised this issue of drain of resources from India to England was Dadabhai Naoroji in his book “Poverty and Un-British Rule in India” published in the year 1871. Dadabhai Naoroji tried to explain in his book the causes of drain, to measure the extent of such drain and to find the consequences of such drain.
Thus the British siphoning system adopted to take away India’s resources and wealth has been termed as ‘The Economic Drain’ by economists like R.C. Dutt, Dadabhai Naoroji and others.
Causes of the Drain:
Dadabhai Naoroji in his book observed, “The drain consists of two elements the first, arising from the remittances by European Officials of their savings, and for their expenditure in England for their various wants both there and in India ; from pensions and salaries paid in England; and the second that arising from remittances by non-official Europeans.”
This indicates that in order to meet the requirements of the economic drain, India had to export much as compared to its imports.: