Tag: indian economy on the eve of independence

Questions Related to indian economy on the eve of independence

Which book was written by Dadabhai Naroji on Indian poverty and economic order before Independence?

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Notes on Poverty in British Ruled India

  2. Indian Economy in British India

  3. Poverty under British Rule in India

  4. Poverty in British India

Show answer
Correct Option: C
Explanation:

The author Dadabhai Naroji, wrote "Poverty under British Rule in India" , who devoted his entire life to the cause of India's upliftment and independence was a social reformer, a member of the British Parliament and founder of the Indian National Congress.

In India during the British rule, railways were developed for _____________.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. creating better infrastructure for the development of the Indian economy

  2. the export of raw materials from India to England for British industries

  3. providing better transport facilities to Indians

  4. developing trade and commerce in India

Show answer
Correct Option: B
Explanation:

In India, British developed railway because of their own interest. They wanted to export raw material from inner parts of India to their country and also to supply their manufactured products in interior hinterland. In this process they need to develop railway infrastructure in India.

The "Drain Theory" about poverty in India is associated with __________.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. M Viswesaraiah

  2. V K R V Rao

  3. Dadabhi Naoroji

  4. Subhash Chandra Bose

Show answer
Correct Option: C
Explanation:

Drain Theory was published by Dadabhai Naoroji in his book 'Poverty and Un-British Rule in India". According to it, while a part of India's capital and wealth was being drained out or exported to England in the form of interests on loans, earning of the British capital invested in India and salaries and pensions of European officers, India get nothing in return.

Who among the following people attempted to estimate India's per-capita income?

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Dadabhai Naoroji

  2. William DIgby

  3. R.C Desai

  4. All of the above

Show answer
Correct Option: D
Explanation:

The Indian economists Dadabhai Naoroji, V.K.R.V. Rao, R.C. Desai and British Findlay Shirras and William Digby attempted to measure India's national income. Among all, V.K.R.V. Rao was the most successful.

What was India's aggregate real output during the first half of the twentieth century?

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. 4%

  2. 2.5%

  3. Less than 2%

  4. 3%

Show answer
Correct Option: C
Explanation:

The country's growth of aggregate real output during the first half of the twentieth century was less than two per cent coupled with a meagre half per cent growth in per capita output per year.

What was the result of the fundamental change in the Indian economy after the British rule began?

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Indian Economy transformed to net supplier of raw materials

  2. Indian Economy transformed to net supplier of manufactured goods

  3. Indian Economy transformed to net supplier of banking services

  4. Indian Economy transformed to net supplier of IT services

Show answer
Correct Option: A
Explanation:

British's profits came primarily from the sale of Indian goods abroad. It tried constantly to open new markets for Indian goods in Britain and other countries. Thereby, it increased the export of Indian manufactures and thus encouraged their production.

Why was the Indian economy developing at a lower pace under the British Colonial Rule?

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. The British couldn't develop India due to numerous wars

  2. The British were concerned with the development of their home country and used India only as a resource haven.

  3. The British were concerned with the development of other countries the British ruled

  4. None of the Above

Show answer
Correct Option: B
Explanation:

Colonial rule transformed India's agriculture sector to a mere supplier of raw materials for the British industries. This not only affected the production of the agricultural sector but also ruined the small manufacturing units like handicrafts and cotton industries. There was very minimal appreciation of the labor forces and compensation of the employees by the colonial regime therefore the workers motivation was very low, with low motivation the workers input will definitely go down low input will obviously lead to lower rates of industrials potential output therefore hindered .

The economic policies followed by the British led to the rapid transformation of India’s economy into a colonial economy whose nature and structure were determined by the needs of the British economy.

What was India's growth of per capita year output during the first half of the twentieth century? 

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. 0.5%

  2. 1%

  3. 2%

  4. 1.25%

Show answer
Correct Option: A
Explanation:

The country's growth of aggregate real output during the first half of the twentieth century was less than two per cent coupled with a mere half per cent growth in per capita output per year.

______ means sustained increase in the stock of capital in a country.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Capital formation

  2. Capital accumulation

  3. Capital appreciation

  4. Capital impairment

Show answer
Correct Option: C

When India became Independent, it had____.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. low per capita income

  2. low saving and investment

  3. poor use of productive resources

  4. all of above

Show answer
Correct Option: D
Explanation:

 Nearly 85% of the country's population lived in villages where livelihood completely depended on agriculture. The Indian economy on the eve of independence with respect to agriculture was disheartening. The most important Indian sector was facing massive stagnation and continuous deterioration. Our economy had been a victim of enormous exploitation. Our natural resources, iron ores, gold mines, wealth and manpower was subject to intense exploitation. Due to these atrocities, the Indian economy on the eve of independence showed poor/low economic growth,low per capita income,no saving and investment.