Table of Contents
- 1 What was the drain theory referred by dadabhai naoroji?
- 2 What is the meaning of drain theory?
- 3 What is the theory of drain of wealth?
- 4 How was wealth drain from India to England?
- 5 What is meant by economic drain?
- 6 What are the elements of drain theory?
- 7 What is called drain of wealth?
- 8 Who explained the drain theory?
- 9 What is Dadabhai Naoroji’s theory of the drain of wealth?
- 10 Who is the founder of drain theory?
- 11 What is the drain theory of nationalism?
What was the drain theory referred by dadabhai naoroji?
In 1867, Dadabhai Naoroji put forward the ‘drain of wealth’ theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India. Further in his book , he stated the loss of 200-300 million pounds of revenue to Britain.
What is the meaning of drain theory?
The essence of the drain theory is that the unilateral transfers that India was compelled to make to Britain systematically stripped the country of resources and thus perpetuated poverty.
What is drain theory 7th class?
The theory proposed that poverty in India was caused by the inefficiency of Indian Rulers. The theory proposed that poverty in India was caused by a combination of various internal causes. The theory proposed that poverty in India was caused by the colonial rule that was draining the wealth and prosperity of India.
What is the theory of drain of wealth?
What Is Drain of Wealth Theory? It refers to the economic critique of colonial rule in India that was advocated by the early nationalists. They described the constant one way flow of wealth from India to England for which India received no returns as ‘Drain of Wealth’.
How was wealth drain from India to England?
However, after the conquest of Bengal, the British stopped getting gold into India. They began to purchase raw material for their industries in England from the surplus revenues of Bengal. Thus, began the process of plundering India’s raw materials, resources and wealth to England.
What do you mean by economic drain during British India?
The drain of Indian wealth during colonial period : The drain of Indian wealth during colonial period means using export surplus as payments for expense incurred by an office set up by the colonial government in Britain, expenses on war fought by the British Government and the import of invisible items.
What is meant by economic drain?
economic drain is a continuous flow of wealth from one nation to another without any returns ,be it material or money,to the nation which is being drained.Drain is a single flow direction with the drained nation getting no returns which is detrimental to the economy of the drained nation.
What are the elements of drain theory?
Dadabhai Naoroji in his book observed, “The drain consists of two elements the first, arising from the remittances by European Officials of their savings, and for their expenditure in England for their various wants both there and in India ; from pensions and salaries paid in England; and the second that arising from …
What was the theory of drain of wealth Class 12?
Dadabhai Naroji advocated the theory of ‘Drain of Wealth’ in the 19th century. The colonial period was marked by the exploitation of Indian resources. The sole motive of Britain to conquer India was to own a perennial source of cheap raw materials to feed its own industrial base in Britain.
What is called drain of wealth?
The transfer of wealth from India to England for which Indian got no proportionate economic return, is called the Drain of Wealth. Till the Battle of Plassey, the European traders used to bring gold into India to buy Indian cotton and silk.
Who explained the drain theory?
Naoroji’s famous drain theory and poverty. Dadabhai Naoroji’s work focused on the drain of wealth from India to Britain during the period rule of British rule in India.
What are the main reason for the drain of resources?
There are several types of resource depletion, the most known being: Aquifer depletion, deforestation, mining for fossil fuels and minerals, pollution or contamination of resources, slash-and-burn agricultural practices, soil erosion, and overconsumption, excessive or unnecessary use of resources.
What is Dadabhai Naoroji’s theory of the drain of wealth?
Dadabhai Naoroji’s theory of the Drain of Wealth. Dadabhai Naoroji was the first man to say that internal factors were not the reasons of poverty in India but poverty was caused by the colonial rule that was draining the wealth and prosperity of India.
Who is the founder of drain theory?
The ‘Drain Theory’ was first developed by Dadabhai Naoroji in a series of speeches and writings subsequently published in 1901 in a volume entitled Poverty and un-British Rule in India. Marginal contributions to the theory were also made by R.C. Dutt, G. S. Iyer, G.K. Gokhale and P.C. Ray.
What did Dadabhai Naoroji do after his schooling?
He mentioned the same concept in his book Poverty and Un-British Rule in India. After completing his schooling, Dadabhai Naoroji finished his Masters degree in Mathematics and worked as a professor in the same subject.
What is the drain theory of nationalism?
During the late 19th and early 20 th century, ‘the drain theory’ came to be seen as the symbol of Indian economic nationalism. Its message was that financial mechanisms by which British rule in India was maintained led to a transfer of wealth and income from India to Britain, imposing a ‘bleeding drain’ on the Indian economy.