What is 'economic drain' and its causes, - MAINS QUESTION - DAILY CURRENT AFFAIR QUESTIONS AND ANSWERS

Wednesday, July 22, 2020

What is 'economic drain' and its causes,

The economic exploitation was characteristic of British policy, sending India's wealth and resources to Britain and not receiving sufficient physical or economic benefits for India. Between 1870 and 1905, Indian intellectuals analyzed the policies of the British government and exposed India's "economic exploitation". Dadabhai Naoroji, R.K. C. Dutt and Govind Ranade are the main ones. The economic exploitation of India began in 1757 from Bengal. Out of 1758, between 1765 and 6 million pounds of property was sent to Britain. After 1765 civil rights, the company started exporting by purchasing Indian goods only from the revenue of Bengal. Thus by the end of the 18th century, about 9 per cent of the Indian national income received was being sent to Britain. This type of economic exploitation was also accepted by the British authorities. For example, John Sullivan, the chairman of the Madras Board of Revenue, remarked - "Our system acts like a sponge, which absorbs resources from the Ganges coast to the Thames coast."
The main reason for the economic exploitation was the foreign character of the British. All the foreign invaders of the British festival settled in India and they made India their country. But on the contrary, the British always remained foreigners, their main goal being to collect official wealth and return to Britain.
Had to go. One of the goals of the British towards economic exploitation was also to take the knowledge of India abroad outside India. Dada Bhai Naoroji's wealth
The foundation of the principle of expulsion was laid at the point of this economic exploitation.

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