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Questions and Answers
What was the impact of the land revenue collection system introduced by the East India Company in India?
What was the impact of the land revenue collection system introduced by the East India Company in India?
How did the construction of railways in mid-19th century impact India's economy?
How did the construction of railways in mid-19th century impact India's economy?
What was the primary cash crop promoted by Britain in India during colonial rule?
What was the primary cash crop promoted by Britain in India during colonial rule?
Which industry saw significant growth due to Britain's promotion of cash crop production in India?
Which industry saw significant growth due to Britain's promotion of cash crop production in India?
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In addition to railways, what other infrastructure developments were undertaken during the mid-19th century in India?
In addition to railways, what other infrastructure developments were undertaken during the mid-19th century in India?
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What was a major factor contributing to India's persistent trade deficit during the time period discussed in the text?
What was a major factor contributing to India's persistent trade deficit during the time period discussed in the text?
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What was the primary focus of the self-help initiatives led by individuals like Raja Ram Mohan Roy and Ishwar Chandra Vidyasagar?
What was the primary focus of the self-help initiatives led by individuals like Raja Ram Mohan Roy and Ishwar Chandra Vidyasagar?
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Which sector did the cooperative movements initiated by social entrepreneurs like Gopal Krishna Gokhale and Mahadev Desai primarily aim to empower?
Which sector did the cooperative movements initiated by social entrepreneurs like Gopal Krishna Gokhale and Mahadev Desai primarily aim to empower?
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What type of leadership and effort were highlighted as crucial for overcoming the challenges inherited by India in 1947?
What type of leadership and effort were highlighted as crucial for overcoming the challenges inherited by India in 1947?
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What characterized the socioeconomic scenarios inherited by India in 1947 after gaining independence?
What characterized the socioeconomic scenarios inherited by India in 1947 after gaining independence?
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Which aspect was emphasized as essential for India's subsequent development journey based on the provided text?
Which aspect was emphasized as essential for India's subsequent development journey based on the provided text?
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Study Notes
India's Economic Landscape before Independence (1947)
As British rule drew towards its end in India, the country's economic landscape was undergoing transformations shaped by colonial policies and indigenous efforts alike. Understanding this pivotal period can shed light on how modern India emerged from the days preceding independence.
Colonial Economy's Foundations
The land taxation policy of East India Company The earliest traces of Britain's influence on India's economy stemmed from the East India Company's acquisition of trade rights in Bengal in 1698. As early as 1765, they introduced a system of land revenue collection, which shifted a substantial portion of income from the local population to foreign hands.
Railways & Infrastructure Development In the mid-19th century, the construction of railways facilitated transportation and commodity exchange within India and with global markets. Significant investments were also made in irrigation projects and public health infrastructure during these times, laying the groundwork for future development.
Cotton Textile Industry Britain had a vested interest in promoting cash crop production in India – primarily cotton and jute–and established processing units like textile mills across regions such as Mumbai, Ahmadabad, Sholapur, and Kanpur to meet global demand, eventually leading to the growth of industrialization.
Foreign Trade Dominance A high proportion of India's exports consisted mainly of raw materials, while imports comprised finished goods, resulting in a persistent trade deficit, along with debt repayments to foreign powers.
Indigenous Efforts Amidst Challenges
Self-Help Initiatives: Movements led by individuals like Raja Ram Mohan Roy, Bankim Chandra Chattopadhyay, and Ishwar Chandra Vidyasagar advocated for social change through education and reform, bringing literacy rates up from their historical lows.
Cooperative Movements: Social entrepreneurs, pioneers like Gopal Krishna Gokhale, Mahadev Desai, and Srinivas Iyenger, initiated cooperative ventures aimed at improving livelihoods by empowering rural communities and providing services including banking, marketing, and credit facilities.
By 1947, when India gained freedom, it inherited a complex mix of socioeconomic scenarios created over decades of colonial governance. While there were significant achievements in some sectors, vast disparities existed between urban and rural areas, and among castes and creeds. Overcoming these challenges required visionary leadership, concerted effort, and determined action; building blocks for India's subsequent development journey.
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Description
Test your knowledge on India's economic dynamics prior to gaining independence in 1947, exploring the colonial foundations and indigenous efforts that shaped the country's economic landscape. Learn about the impact of British policies, infrastructure developments, industrialization, foreign trade dynamics, self-help initiatives, and cooperative movements.
