First, the most important item was the remittance to England of a proportion of salaries, incomes, and saving by civil, military employees of the British origin, as well as by professionals such as lawyers and doctors. Ray. Just as in the case of civil servants, the remittances of a proportion of salaries, incomes and savings by British military personnel and the payment in sterling by the government of India of pensions and other allowances to the army officers, constituted an item of drain. The British benefited immensely from the plunder and exploitation of India. ADVERTISEMENTS: 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. Bagchi’s estimate is that ‘external drain’ from Bengal constituted about 3 to 4 percent of the gross domestic material product. Q1.Which one of the following factors plays the most important role in the location of an industry in a particular region? During the late 19th and early 20th century, ‘the drain theory’ came to be seen as the symbol of Indian economic nationalism. The country is one of the G-20 major economies, a member of BRICS and a developing economy... Indian Railway is an Indian state-owned enterprise, owned and operated by the Government of India through the Ministry of Railways. 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. Also, Read: Important Battles Fought In India. The Indian economy has been premised on the concept of planning. This has been carried through the Five-Year Plans, developed, executed, and monitored by the Planning Commission. very nice,sir.if cce AND ncert books download sites have known,then mention. It was observed that a poor country like India was made to subsidise the imperial defence. The drain theory served as a basis for wide protests, and nationalist mobilisation against the British rule. how many states approval does parliament need​, information about eartquake forecast from past to present i want a big information for a project i want to big answers plzz​. 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. These, together with the payment in sterling by the government of India of the pensions and allowances of British officials, constituted a heavy burden on the resources of India. Marginal contributions to the theory were also made by R.C. The land revenue because of Dewani rights was remitted by the Company to England. The second item was military expenditure. You can specify conditions of storing and accessing cookies in your browser, Taske. Dutt, G. S. Iyer, G.K. Gokhale and P.C. What exactly is the Great Drain Theory: It is presented by the great Indian critic, levelled charges against PM MR. Modi that he deliberately scheduled excessive foreign visits during which he chose to avoid the Indian masses and thereby avoiding to deliver upon his promise.And that this amount of foreign trips were not necessary some being even called by the great Indian critic as,”futile”. The drain theory, as formulated by the nationalists, referred to the process by which, a significant part of India’s national wealth, was being exported to England for which India got no economic returns. Indian nationalist thinkers developed the theory of Drain mainly for analysing main cause of poverty in India. Dutt, G. S. Iyer, G.K. Gokhale and P.C. An elementary principle of economic development is that surplus is generated for investment but if the surplus is siphoned off from a colony to the colonizers, the colony gets underdeveloped. Asia is third of the loud area of our planet true or false. They explained the drain of resources of India into England through scientific statistics and called it “Drain Theory’. Naoroji emphasised three types of drain. It was observed that a poor country like India was made to subsidise the imperial defence. what did you do cast sunday? Explain ? 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. 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. Naoroji observed that ‘the chief cause of India’s poverty, misery, and all other material evils is the exhaustion of its wealth, which continuously and increasingly exhausting and weakening its production, by the excessive expenditure on the European portion of all its sources, and the burden of a large amount each year to be paid to foreign countries for interest on the public debt, which is chiefly caused by the British rule’. These, together with the payment in sterling by the government of India of the pensions and allowances of British officials, constituted a heavy burden on the resources of India. If expenditure on wars of the East India Company is added in this period, Bagchi maintains: “that at least 5 to 6 per cent of resources of the ruled land were siphoned off from any possibility of investment”. 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. This monopoly of plunder and exploitation by the Company continued by the end of the eighteenth century when England moved from mercantile capitalism to industrial revolution and the emerging industrial capitalists in Britain started demanding the end of Company rule in India. In other words, India was made to pay an indirect, tribute to the English nation. Marginal contributions to the theory were also made by R.C. Naoroji observed that ‘the chief cause of India’s poverty, misery, and all other material evils is the exhaustion of its wealth, which continuously and increasingly exhausting and weakening its production, by the excessive expenditure on the European portion of all its sources, and the burden of a large amount each year to be paid to foreign countries for interest on the public debt, which is chiefly caused by the British rule’. This was the impact of the external drain on the economy of India under British colonial rule starting with Bengal after the battle of Plassey in 1757. Shouting ‘Allahu Akbar’ they threw stones at London Indian High Commission building; 2 held, Kerala: Protest intensifies against appointment of unqualified person as VC of Sree Narayana Guru Open University, Goa becomes first ‘Har Ghar Jal’ State across the nation by providing tap water connection to every rural household. Through the course of evolution, we have... Ecology is the study of environmental systems, or as it is sometimes called, the economy of nature. 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. Tick the suitable option oflast option alsoI. The drain theory incorporated all the threads of the nationalists critique of colonialism, for the drain denuded India of the productive capital, its agriculture and industries so desperately needed. The most top industries... Economics is the science which studies human behaviour and aims at meeting maximum objectives with the help of limited resources. Dutt, G. S. Iyer, G.K. Gokhale and P.C. Marginal contributions to the theory were The third item was the remittances made in sterling of interest on loans for construction and maintenance of public works such as railways, irrigation works, etc. The drain theory, as formulated by the nationalists, referred to the process by which, a significant part of India’s national wealth, was being exported to England for which India got no economic returns. Needless to say, this drain of India’s wealth to England, in the form of salaries to British officers posted in India, home charges and the profits made on the British capital invested in India, benefited England and diminished the sources for investment in India.

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