Weband its servants extorted illegally immense wealth from Indian merchants, officials, nobles, rulers and zamindars. Gradually, a large number of highly ... The concept of Drain of … WebMar 16, 2024 · The Drain of Wealth theory was developed by nationalist thinkers and economists. Dadabhai Naoroji put forward the Drain of Wealth Theory. The first railway line was opened in 1853. Dadabhai Naoroji stated that Britain was completely draining India in his theory. He mentioned this theory in his book. The Drain of Wealth
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WebEnormous wealth began to flow into the Company's exchequer as well as the private purse of the Com-pany's servants through bribe, exaction and plunder. Lord Clive wrote ... Web» Drain of Wealth theory refers to a portion of national product of India which was not available for consumption to its people. Constituents of drain were : 1. Extortion by company servants the fortunes from rulers, zamindars, merchants and common man and sending them home. 2. Purchasing goods out of revenues of Bengal and exporting them. kissht customer care
Drain of Wealth, Theory, History, Process, Causes and …
WebWhat is the Drain Theory? A. The theory proposed that poverty in India was caused by the inefficiency of Indian Rulers. B. The theory proposed that poverty in India was caused by a combination of various internal causes. C. The theory proposed that poverty in India was caused by the colonial rule that was draining the wealth and prosperity of ... Webwas responsible for the ‘drain of wealth’ to Britain in the second half of the 18 th century. The resources from India contributed substantially to the accumulation of capital that was … WebEnormous wealth began to flow into the Company's exchequer as well as the private purse of the Com-pany's servants through bribe, exaction and plunder. Lord Clive wrote ... Cornwallis also referred to a heavy drain of wealth from India in his minute of 1790 due to a large annual investment in Europe and remittances lytic lesion definition medical