Economic Impact of British Rule in India

Question 1

allowing one-way free trade for the British citizens

Answer 1

Charter Act of 1813

Question 2

Commercial crops like

Answer 2

cotton, jute, groundnut, oilseeds, sugarcane, tobacco

Question 3

The first cotton textile mill was set up in 1853 in

Bombay by

Answer 3

Cowasjee Nanabhoy

Question 4

ready markets abroad for some Indian exports such as

Answer 4

tea, jute and manganese.

Question 5

Thedrain theory was put forward by

Answer 5

Dadabhai Naoroji in his book Poverty

and UnBritish Rule in India.

Question 6

The major components of this drain

were

Answer 6

salaries and pensions of civil and military officials, interests on loans taken by the Indian Government from abroad, profits on foreign investment in India, stores purchased in Britain for civil and military departments, payments to be made for shipping, banking and insurance services which stunted the growth of Indian enterprise in these services.

Question 7

The Economic History of India

Answer 7

Romesh Chandra Dutt

Question 8

Other economic analysts included

Answer 8

Justice Mahadeo Govind Ranade, Romesh Chandra Dutt Gopal Krishna Gokhale, G. Subramaniya Iyer and
Prithwishchandra Ray

Question 9

Expenditure on railways should be seen as an Indian subsidy to British industries.”

Answer 9

G.V. Joshi remarked