Indian Economy On The Eve Independence
Indian Economy On The Eve Of Independence
I provide some information and details about agriculture sector, industrial sector and foreign trade sector. Which usually reflects the critical situations of these sectors at the eve of independence.
Agriculture Sector On The Eve Of Independence
Agriculture sector was both backward as well as stagnant because:-
- People did subsistence farming ( means farming for self consumption) rather than for generating income from crops.
- Level of productivity was low. It yielded low productivity at high cost .
- Agriculture was at high degree of vulnerability because it depended on rainfall. Britishers did not develop the irrigation facility in India. They always wanted to exploit it by halting the growth of agriculture sector.
img source;- Islam.org
The reasons of laggard agriculture was Land revenue system ( Zamindari system). British introduced the zamindari system in which zamindars were recognised as the owners of the land. They were to pay land revenue to the government. This led to exploitation of the tillers of the soil by the owner of the soil.
img source:- slideplayer.com
On the other hand, They were also forced to cultivate cash crops (like indigo) instead of crop like wheat, paddy etc. because indigo was required by the textile industry in Britain for dyeing of the textile. but after that, they were denied to accept indigo because synthetic indigo invented in Britain which caused debt to the farmers and uncertainties of the market. So, zamindari system as well as commercialisation of crops caused backwarness of agriculture sector.
Industrial Sector On The Eve Of Independence
The status of industry during the British rule:-
- Decline of handicraft industry:- British govt. imposed heavy duty on the handicraft products. which caused decline of handicraft industry while the british products started dominating the Indian markets.
- They introduced railways in India for their self interest because the motive of the Britishers were to exploit India. So, they were imported raw materials from India to Britain and exported finished goods to India.
Foreign trade under the British rule:-
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India was eminent in the area of foreign trade, since ancient times. but the British rule in India did not take care of it. They exploited India in such a way that would have became net importer from net exporter of finished goods. They also generated surplus from foreign trade but did not use for future growth of India, They used it to enlarge colonies of British government. There was huge drainage of wealth from India. This caused backwardness of Indian economy.
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