Aartee Mishra is teaching live on Unacademy Plus
Spectrum's A brief history of Moderrn India Economic Impact of British Rule in India
wishing. stop start doing Star Educator Topper from Delhi University Top Educator on Unacademy Plus Pursuing P.G 2 Years of teaching experience of General Studies for competitive examination
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Economic Impact of British Rule in India The major difference between the British colonists in India and earlier invaders was that none of the earlier invaders made any structural changes in Indian economy or drained away India's wealth as tribute. British rule in India caused a transformation of India's economy, into a colonial economy, i.e., the structure and operation of Indian economy were determined by the interests of the British economy. DEINDUSTRIALISATION-RUIN OF ARTISANS AND HANDICRAFTSMEN Cheap and machine-made imports flooded the Indian market after the Charter Act of 1813 allowing one-way free trade for the British citizens. On the other hand, Indian products found it more and more difficult to penetrate the European markets. After 1820, European markets were virtually closed to Indian exports. The newly introduced rail network helped the European products to reach the remotest corners of the country. The loss of traditional livelihood was not accompanied by a process of industrialisation in India, as had happened in other rapidly industrialising countries of the time. This resulted in deindustrialisation of India at a time when Europe was witnessing a reintensified Industrial Revolution. This happened at a time when Indian artisans and handicraftsmen were already feeling the crunch due to loss of patronage by princes and the nobility, who were now under the influence of new western tastes and values.
IMPOVERISHMENT OF PEASANTRY The Government, only interested in maximisation of rents and in securing its share of revenue, had enforced the Permanent Settlement system in large parts. Transferability of land was one feature of the new settlement which caused great insecurity to the tenants who lost all their traditional rights in land. There was little spending by Government on improvement of land productivity. The zamindars, with increased powers, resorted to summary evictions, demanded illegal dues and 'begar' to maximise their share in the produce and, as such, had no incentive to invest for improvement of agriculture. The overburdened peasants had to approach the money-lenders to be able to pay their dues to the zamindars. The moneylender, who was often also the village grainmerchant, forced the farmer to sell the produce at low prices to clear his dues. The powerful money-lender was also able to manipulate the judiciary and law in his favour. The peasant turned out to be the ultimate sufferer under the triple burden of the Government, zamindar and moneylender. His hardship increased at the time of famine and scarcity. This was as much true for the zamindari areas as for areas under Ryotwari and Mahalwari systems.
CONSTITUTION OF INDIA INDIAN POLITY By: M LAXMIKANT Centre-State Relations
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