What is meant by ‘Home Charges
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Home Charges are the interes ts of India's exte rnal deb ts and the pay ments of the sala ries and p ensions of British officials in India are what the Home Charges com prised of. The trade surplus was used to make the se paym ents or the payments for the Home Charges.
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Before independence in India, home charges were special types of contributions which were used by the British government for meeting various types of expenses for maintenance of the colony.
These consist of payments of pensions and salaries of British people staying in India and interests earned on external debt of India.
Surpluses from the trade were used for making these payments.
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