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How did export surplus during british rule lead to the economic drain of Indian wealth?
During entire British colonial period,the value & volume of India's gross exports of primary goods (food grains, cotton, raw silk,wool,jute,sugar,indigo ,etc.) exceeded the gross imports of finished consumer goods like cotton silk & woolen clothes and capital goods like light machinery manufactured in British factories.This led to generation of huge export surplus. But this surplus came as a huge cost to Indian economy.Several essential commodities(food,clothes,kerosine) were scarcely available in domestic market.This also did not result in any flow of gold or silver into India(unlike pre -British rule) .Rather,this was used to make payments to the cost of British colonial establishment(Army,navy,bureaucracy,etc) in India,war expenses & expenses on imports of invisible items.This all led to irreversible drain of Indian wealth by the British raj.
What else can I help you with?
What happens during a economic expansion?
What increases, decreases and stays the same during a economic expansion? Choices: tax revinue, consumer income, budget surplus, aggregate demand, budget deficit, aggregate supply, real GDP, corporate profits
During british rule the Indian textile industry was almost wiped out because?
Machine-made British textiles were sold cheaply in India
Why was there a labor surplus in the US?
The labor surplus in the U.S. can be attributed to several factors, including technological advancements that increased automation, leading to a reduced need for manual labor. Additionally, economic shifts, such as globalization and outsourcing, have contributed to job losses in certain sectors while increasing competition for available jobs. Furthermore, demographic changes, such as a growing workforce and higher unemployment rates during economic downturns, have exacerbated the surplus. These factors combined have created a situation where the number of job seekers surpasses the available positions.
What measures the economic value of goods and services?
The economic value of goods and services is measured by their market price, which reflects the amount consumers are willing to pay based on supply and demand dynamics. Additionally, metrics such as Gross Domestic Product (GDP) quantify the overall economic value by summing the monetary value of all final goods and services produced within a country during a specific period. Other measures, like consumer surplus and producer surplus, also provide insights into the economic value by assessing the benefits to consumers and producers, respectively.
What is surplus units?
An economic unit having access of funds and wants to lend his funds
What was British doing during french and Indian war?
The British fought the French.
What Indian confederation supported the British during the seven years war?
the Cherokee and the Iroquois helped the british -your Indian friend from Oklahoma
Who strategically placed forts during the French and Indian War the British or the French?
the british
Where did delegates for 7 colonies meet during French and Indian War?
No delegates met during the French and Indian war. The colonies were still British and fought by the British military.
Who was the British during the French and Indian war?
William Pitt
Who was on the British side during the French and Indian War?
The irquios tribe was on the british side. The british side won the war.
Who was the only Indian have the name viceroy during the british rule?
C.Rajagopalachari
British king during the french and Indian war?
King George
Were British and the French enemies during the French and Indian War?
yes they were
What was life like for the Indian people during the British raj?
it was hard
During the french and Indian war the colonists viewed the british as?
The colonists at that time saw themselves a British, the British were their own countrymen.
What is economic nationalism in India during British rule?
child marriage and untenability
