Saturday 21 April 2018

Class 11 - Economics - Indian economy on the eve of Independence (#cbsenotes)(#eduvictors)

Indian economy on the eve of Independence

Class 11 - Economics - Indian economy on the eve of Independence (#cbsenotes)(#eduvictors)

Q1: What was the main objective of British colonial rule in India from economic point of view?

Answer: The sole purpose of the British Colonial rule in India was to reduce the country to being a feeder economy. On the other hand, Great Britain owned rapidly expanding modern industrial base.

Q2: What were the conditions in the Indian economy on the eve of Independence?

Answer: Deplorable Conditions in the Indian economy on the eve of Independence

① Low level of economic development:
The colonial government never made any sincere attempt to estimate India's national per capita income.

The estimate of GDP growth rate by Dr V. K. R. V. Rao was about 2% per annum while the growth of per capita output was just 0.5 percent per annum.

② Backward agriculture sector:
Due to land tenure system, Ryotary system, mahalwari system etc., agriculture sector had hit badly.

a) Land tenure system - Zamindari system, mahalwari system and ryotwari system incurred losses to farmers.

b) Forced commercialisation of agriculture - neel farming Bagan etc.

c) Due to partition of the country Bengal had only Jute land and East Pakistan had Jute mills.

③ Developed industrial sector

a) De industrialisation: Decline of Indian handicraft industry and export of readymade product declined and imports increased.
b) Capital good industries were lacking.
c) Limited operation of public sector.
d) Discriminatory tariff policy

④ Foreign trade characteristics
a) India was net Exporter of raw material and importer of finished goods.
b) Britain had monopoly control on foreign trade
c) Wealth drain from India

⑤ Adverse demographic condition
a) Hi death rate - 45 per 1000
b) High infant mortality rate - 215 per 1000
c) Mass illiteracy - 84% illiterate
d) Low life expectancy 32 years
e) Low standard of living - people used to spend 80% or 90% of the rain come on basic needs
f) Lack of public health facilities

⑥ Underdeveloped Infrastructure
a) Absence of good roads, no electricity generation, poor health, absence of education and communication.
b) Some efforts have been made to develop basic infrastructure like roads, railways, water transport, Post and Telegraph by British rulers. Their motive was not to provide basic amenities to the Indian people but for their colonial interest.

More dependency on primary sector occupation structure
a) Largest share of workforce that is 72% of total workforce was engaged in agriculture and allied sector.
b) 10% workforce in manufacturing while 18% work force were engaged in service sector.

Q3: What were positive side effects of the British Rule in India?

Answer: There were a few positive side effects of the British Rule in India:
To provide transport facilities, largely in terms if railways.
Development of ports
Provision of post and telegraph services.
British government set up administrative services which formed the based of IAS. 
Political and economic integration of India.
Evolution of banking and monetary system.

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