write a short note on drain of wealth
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The drain of wealth was the portion of India's wealth and economy that was not available to Indians. The Drain of Wealth theory was systemically initiated by Dadabhai Naoroji in 1867 and further analysed and developed by R.P. Dutt, M.G Ranade etc. It refers to the economic critique of colonial rule in India that was advocated by the early nationalists. They described the constant one way flow of wealth from India to England for which India received no returns as 'Drain of Wealth'.
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The drain of wealth was the proportion
of India's wealth and economy that was
not available to indians. In 1867,
Dada bhai Naoraoji put forth the
'drain of wealth' theory in which stated
that the britain was completely draining
india. He mentioned this theory in his
book poverty and UnBritish Rule in
India.
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