chapter 1 - indian economy on the eve of independence Flashcards
what was the objective of economic policies?
the colonial government were only concerned with the economic development of their home country rather than the development of the indian economy
important export goods of india
silk, jute, indigo, sugar, wool, cotton
what was the main cause of india’s agricultural stagnant during the colonial period’
land settlement reasons
revenue settlement reasons
modern industries which were operating in our country
tata iron and steel company (TISCO)
cotton
jute
textile
paper
cement
State the features of india’s pre-independence occupational structure
pre-dominance of agriculture
regional variations
mentioned the economic activities confined to the public sector
> railways, communication, power generation
the traditional handicrafts industries were ruined under the british rule. explain.
the decline of these industries caused massive unemployment, there was heavy tax on these cgood which made it more expensive than the british goods. there was competition with machine made goods and india wasn’t allowed to start modern industries. they wanted to reduce india to a mere exporter of finished goods. they movements of trade were restricted to only Britain and they had monopoly over india’s export and import
indicate the volume and direction of trade
volume of trade - the amount or the quantity of goods being exported, direction of trade -countries to which the goods are being exported to.
India was the exporter of primary goods (raw material) & importer of finished goods from
demographic profile of india
literacy rate - 16% out of this only 7% were women
public health facilities - really bad, caused lots of deaths and was inadequate
mortality rate - 218 babies per thousand ( infant mortality rate) life expectancy rate was 44 years
what do you understand by drain of wealth in india
the foreign trade generated large export surplus. it was a disadvantage to the county’s economy
the essential goods were all being transported to britain
the export surplus was being used by the colonial govt expenses
explain the status of Indian agriculture during British rule
though the livelihood depended on agr. there was low production because -
land settlement - zamindari system, the profit earned from cultivation was collected by zamindars without giving any profit to cultivators
revenue settlement - they strictly collected land revenue even during drought
low level of tech, irrigation, fertilizers etc
what were the positive contribution of the british?
railways - helped the economy
infrastructure - helped with day - to - day lives
occupational structure - expanded jobs rather than agriculture
industrialisation - new industries (TISCO)
