History · Spectrum Books A Brief History of Modern India
Chapter 28 : Economic Impact of British Rule in India
Table of contents63 sections
- 1.Economic Impact of British Rule in India
- 2.Introduction and Early Critics
- 3.Early Critics from Maharashtra
- 4.Key Terms
- 5.📌 Exam Tidbits
- 6.Deindustrialisation—Ruin of Artisans and Handicraftsmen
- 7.One-Way Free Trade
- 8.No Steps towards Modern Industrialisation
- 9.Ruralisation
- 10.Key Terms
- 11.📌 Exam Tidbits
- 12.Impoverishment of Peasantry
- 13.Key Terms
- 14.📌 Exam Tidbits
- 15.Emergence of Intermediaries, Absentee Landlordism, Ruin of Old Zamindars
- 16.Key Terms
- 17.📌 Exam Tidbits
- 18.Stagnation and Deterioration of Agriculture
- 19.Key Terms
- 20.📌 Exam Tidbits
- 21.Famine and Poverty
- 22.Definitions and Historiography
- 23.Major Famines under British Colonial Rule
- 24.General Causes of Famines
- 25.Key Terms
- 26.📌 Exam Tidbits
- 27.Famine Commissions and Famine Code
- 28.Chronological Sequence of Famine Commissions
- 29.The Indian Famine Code (1883)
- 30.Curzon's Agricultural Measures
- 31.Key Terms
- 32.📌 Exam Tidbits
- 33.Why Disastrous Famines Declined after 1900
- 34.What of the Princely States
- 35.Key Terms
- 36.📌 Exam Tidbits
- 37.The Man-Made Bengal Famine of 1943
- 38.Key Terms
- 39.📌 Exam Tidbits
- 40.Lessons Learnt and Response of Indian Society
- 41.Key Terms
- 42.📌 Exam Tidbits
- 43.Commercialisation of Indian Agriculture
- 44.Key Terms
- 45.📌 Exam Tidbits
- 46.Destruction of Industry and Late Development of Modern Industry
- 47.Destruction of Indigenous Industry
- 48.Role of Indian Intermediaries
- 49.Late Development of Modern Industry
- 50.Key Terms
- 51.📌 Exam Tidbits
- 52.Nationalist Critique of Colonial Economy
- 53.Economic Drain Theory
- 54.British Policies Making India Poor
- 55.Key Terms
- 56.📌 Exam Tidbits
- 57.Economic Issues—a Stimulant to National Unrest
- 58.Key Terms
- 59.📌 Exam Tidbits
- 60.Stages of Colonialism in India
- 61.Key Terms
- 62.📌 Exam Tidbits
- 63.Quick-Recall Box
Chapter preview
Economic Impact of British Rule in India
Introduction and Early Critics
British rule transformed India's economy into a colonial economy, where its structure and operation were determined by the interests of the British economy. This differed from earlier invaders who settled as rulers without making structural changes or draining wealth as tribute.
- Economic Share: At the beginning of the 18th century, India's share in the world economy was 23 per cent. By independence, it had fallen to 3 per cent.
- Raja Rammohan Roy: As early as the 1830s, he spoke against colonial economic policies, criticised the 'tribute' paid to Britain, and raised concerns about self-cultivating peasants.
- Maharashtra Intellectuals (1840s): Years before Dadabhai Naoroji, a small group wrote in English and Marathi presses criticising British policies for impoverishing India and blaming Indian social evils (like the caste system) for India's servitude.
- Systematic Critique: In the later part of the 1800s, a systematic critique of British economic policies was expressed by the nationalists.
Early Critics from Maharashtra
| Critic | Period/Date | Key Contributions & Arguments |
|---|---|---|
| Bhaskar Pandurang Tarkhadkar | 1816–47 | Wrote 8 'epistles' (letters) in the Bombay Gazette (July to October 1841) using press freedom granted by Metcalfe. Earned the title 'Second Junius' (after the 1771 Letters of Junius in Britain). Criticised the First Opium War. Argued railways and laws were British "conveniences". Highlighted the destruction of indigenous industry in Maharashtra and India. Estimated wealth siphoned off at "about 1,000 million pounds" between the Battle of Plassey (1757) and 1815. Criticised the no-tariff policy allowing duty-free British goods. |
| Ramakrishna Vishwanath | 1840s | Wrote a book on the history and political economy of India. Pointed out the drain of resources. Advised Indians to work hard and invest in modern industry. |
| Bhau Mahajan | 1840s | Criticised imperialist policies that led to wars whose costs were charged to the Indian treasury. |
Key Terms
📌 Exam Tidbits
- Raja Rammohan Roy was among the earliest (1830s) to critique the economic 'tribute' paid to Britain.
- Bhaskar Pandurang Tarkhadkar was known as the 'Second Junius' for his 1841 letters in the Bombay…
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View plans Chapter 29 : Development of Indian Press