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Questions and Answers

What is the foundation of the British Empire in India?

The foundation of the British Empire in India was laid by the Battle of Plassey, fought in 1757.

What was the main purpose of British Rule in India?

The main purpose of the British Rule in India was to use Indian economy as a feeder economy for the development of the British economy.

What are the three key features that characterized the Indian Economy before the advent of British rule?

Before the arrival of British Rule, the Indian economy was characterized by a prosperous economy, an agrarian economy, and well-known handicrafts industries.

How can the economic condition of a nation be judged?

The economic condition of a nation can be judged with the data of national income and per capita income. Signup and view all the answers

The British Government made sincere attempts to estimate India's national and per capita income.

False (B) Signup and view all the answers

Who are some of the experts that made individual attempts to estimate India's national and per capita income during British rule?

Some individual attempts to estimate India's national income and per capita income were made by experts like Dadabhai Naoroji, William Digby, Findlay Shirras, V.K.R.V Rao and R.C. Desai. Signup and view all the answers

What were the main reasons for stagnation in the agricultural sector during British rule?

The most important reason for stagnation in the agricultural sector was the introduction of the Zamindari System by the colonial government and commercialization of agriculture during British rule. Signup and view all the answers

What were the main adverse effects of the partition of India on the agricultural sector?

A sizeable portion of the undivided country's highly irrigated and fertile land went to Pakistan. Almost, the whole of jute producing area became part of East Pakistan (now Bangladesh). India's jute goods industry, which had enjoyed a world monopoly so far, suffered heavily for lack of raw material. Signup and view all the answers

What were the two motives behind the British Government's systematic destruction of Indian handicraft industries?

The British Government systematically destroyed Indian handicraft industries to get raw materials from India at cheap rates to be used by upcoming modern industries in Britain and to sell finished products of British industries in Indian market at higher prices. Signup and view all the answers

What were the adverse effects of the decline of the Handicraft Industry in India?

Both A and B (A) Signup and view all the answers

During British rule, there was a significant capital goods industry in India.

False (B) Signup and view all the answers

The growth rate of the new industrial sector in India during British rule was significant and contributed heavily to the GDP.

False (B) Signup and view all the answers

What sectors were primarily managed by the Public Sector in India during the British rule?

The public sector remained confined only to the railways, power generation, communications, ports and some other departmental undertakings. Signup and view all the answers

What were the main reasons why India became a major exporter of primary products and a major importer of finished goods during British rule?

India became an exporter of primary products such as raw silk, cotton, sugar, jute etc. and an importer of finished consumer goods like woolen clothes and capital goods like light machinery, produced in the British Industries. Signup and view all the answers

The British Government maintained a monopoly control over India's exports and imports throughout their rule.

True (A) Signup and view all the answers

What is the significance of the opening of the Suez Canal in 1869?

The opening of the Suez Canal in 1869 served as a direct route for the ships operating between India and Britain. Signup and view all the answers

How was the export surplus of India during British rule used?

There were huge exports surplus due to excess exports. However, export surplus was used to make payments for expenses incurred by an office set by the colonial government in Britain, to meet expenses on war fought by the British Government, and to improve invisible items. Signup and view all the answers

The overall literacy rate in India during the colonial rule was higher than 16 percent.

False (B) Signup and view all the answers

Health facilities available to the Indian population during colonial rule were adequate and accessible to all.

False (B) Signup and view all the answers

What is the meaning of the term ‘Occupational Structure’?

Occupational structure refers to the distribution of working persons across primary, secondary and tertiary sector of the economy. Signup and view all the answers

During the colonial period, the occupational structure of India showed significant changes and shifts in the workforce.

False (B) Signup and view all the answers

What were the main issues that the Indian government had to address in the economic system after independence?

On the eve of independence, the Indian economy was completely underdeveloped. Therefore, the Indian government had to decide on the type of 'Economic System' that would be best suited for India. This included deciding what to produce, how to produce it, and for whom to produce it. Signup and view all the answers

What is Economic Planning?

Economic planning refers to a system under which a central authority sets a set of targets and specifies a set of programs and policies to achieve those targets within the specified period of time. Signup and view all the answers

What was the most notable measure taken to make economic planning effective in India?

To make economic planning effective, the Government of India set up Planning Commission in 1950, with the Prime Minister as the Chairman. Signup and view all the answers

What are the key goals of the Five-Year Plans in India?

The basic goals of the Five-Year plans are growth, modernization, self-reliance, and equity. Signup and view all the answers

What is the main difference between the Capitalist Economy and the Socialist Economy?

The Capitalist Economy means of production are owned, controlled and operated by Private Sector, whereas in the Socialist Economy means of production are owned, controlled and operated by Government. Signup and view all the answers

What is the concept of ‘growth’ in economic planning?

Growth refers to increase in the country's capacity to produce the output of goods and services within the country. Signup and view all the answers

What is the concept of ‘modernization’ in economic planning?

Modernization includes adoption of new technology and change in social outlook. Signup and view all the answers

What is the concept of ‘self-reliance’ in economic planning?

Self-reliance means development through domestic resources. Signup and view all the answers

What is the concept of ‘equity’ in economic planning?

According to Equity, every Indian should be able to meet his or her basic needs and inequality in the distribution of wealth should be reduced. It's important to ensure that benefits of economic prosperity are availed by all sections of the economy. Signup and view all the answers

Flashcards

British Colonial Rule in India

A system of political and social relations where Britain controlled India, primarily using India's economy to benefit Britain.

Colonial Economy in India

A stagnating economy where India was primarily an exporter of raw materials and importer of finished goods, leading to a drain of wealth.

Zamindari System

A land settlement system where zamindars collected taxes (Lagaan) from farmers without improving agriculture.

De-industrialization

The decline of India's handicraft industries under British rule due to the British promoting their own industries.