Q.1 (A) The Britishers damaged the Indian economy. Explain the statement.
Answers
Answer:
Here is your answer
Explanation:
(i) India remained primarily an agricultural country throughout the British period and its agricultural sector totally remained backward with its little bit of commercialisation just to serve the interests of Great Britain.
(ii) British rulers never permitted to modernise the prevailing industrial structure of India during the 18th and 19th century leading to large scale destruction of world famous handicrafts and cottage industries of the country.
(iii) By following the policy of discriminating protection, Britishers gained complete control over the entire Indian markets.
(iv) British rulers gradually transformed the Indian economy into a primary producing country exporting only agricultural products and raw materials necessary for industries in Britain and importing only British manufactures.
(v) To promote foreign trade and to exploit natural resources of India to their advantage, British rulers built up economic infrastructure which includes roads and railway network, ports and shipping, irrigation and electricity etc.
(vi) The Managing agency system promoted by the British systematically appropriated about 50 per cent of the gross profit of the consumer goods industries developed by the Britishers as their managerial remuneration.
(vii) The British rulers thoroughly exploited the Indian economy through economic drain in the form of home charges and huge amount of family remittances.
The aforesaid nature of exploitative policies of the British rulers bad resulted in large scale poverty, stagnation and backwardness of the Indian economy along-with a huge drain of economic resources of the country to Great Britain.