Question

Consider the following statements regarding the Indian National movement.

1. Romesh Chunder Dutt, a retired ICS officer, published 'The Economic History of India' at the beginning of the 20^th Century. In this book, he examined in minute detail the entire economic record of colonial rule since 1757.

2. The focal point of the nationalist critique was the drain theory.

Select the correct answer using the codes given below.

1. 1 only
2. 2 only
3. Both 1 and 2
4. neither 1 nor 2

Answer 1

Correct Answer - Option 3 : Both 1 and 2

The correct answer is Both 1 and 2.

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• Indian National Movement
  • Romesh Chunder Dutt, a retired ICS officer, published 'The Economic History of India' at the beginning of the 20^th Century.
    • In this book, he examined in minute detail the entire economic record of colonial rule since 1757. Hence statement 1 is correct.
  • The focal point of the nationalist critique was the drain theory. ​Hence statement 2 is correct.

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• The consequence of the Drain of wealth was as follows:
  • It impoverished all the sections of Indian society particularly the peasants, who bore the brunt of the taxes raised by the Britishers.
  • It drained India of its precious capital, which could have otherwise been invested in the industrialization/ modernization of India.
  • The drain of Indian wealth was used for financing the Industrial Revolution in England and is also the reason why the industrial revolution did not take place in India.
  • The economic criticism of British rule had helped in shattering the myth of benevolence of British administration in India.
  • It was instrumental in laying the foundations for the demand for Swaraj and the ensuing freedom struggle.