Essay on indian economy on the eve of independence

pre colonial agrarian economy in india

Also, the introduction of railways in India was the reason for market expansion. But the inland waterways received a set-back after the advent of Railways in And no efforts were made by the British to eradicate irrigation issues.

Thus till the middle of the last century, the road transport in India was in a most backward condition.

Post colonial indian economy

Since every policy that they were framing was constantly focusing on favouring their nation, we had very little left towards the end. Other crops, produced in India from the very beginning, were consisting of pulses of different types, oil seeds, jute, cotton, indigo and spices. Hence, the stagnation or retardation of the Indian agricultural sector. Industry 3. Thus it is found that although the air transport services were developed in India during the fag end of the British period but it could not gain momentum due to lack of infrastructural facilities and scarcity of investment. In , the first regular airline service started to function. In this way, British industrial capital had accelerated the process of economic drain from India alongwith the degree of exploitation and then set imbalances in Indian economy. Again a good number of metal industries flourished in India which includes brass, copper and bell-metal industries established in Banaras, Nasik, Poona, Hyderabad, Tanjore, Vishakhapattnam etc. The woollen articles viz. British capitalist established jute mills in Bengal and also started tea, coffee and indigo plantation which made it possible to exploit Indian labourers extensively. To conclude, Not only was the industrial and agricultural sectors of the country affected but so was the foreign trade.

There was an increasing pressure on agricultural sector as there was a decline of urban handicrafts in India. Commercialisation of Agriculture: Towards the end of the 18th century, the East India Company realised the export potentialities of some of the Indian agricultural commodities like indigo, jute, cotton and oilseeds.

Accordingly, the Government of India created a Road Fund in on a permanent basis.

Essay on indian economy on the eve of independence

The conditions are: 1. But the attempts tragically failed due to inconsistency, lack of expertise and inaccuracy. It was only during the regime of Lord Dalhousie, the central public works department was established in and real initiative was taken to construct roads in various parts of the country. During the major part of the British period excess of exports over imports had resulted in a favourable balance of trade. Indian Economy: Condition 3. India started to export more of primary products like food-grains and raw materials, viz. Accordingly, during the first half of the 19th century India experienced fundamental changes in the composition of its exports and imports. Industry 3. Thus it is found that although the air transport services were developed in India during the fag end of the British period but it could not gain momentum due to lack of infrastructural facilities and scarcity of investment. As a result, Britisher transformed Indian agriculture into a raw material activity to England. Because a poor rainfall generally led to a low output level and high crop failures. And as a result of these actions, towards the end of their reign, we were illiterate. Throughout the past centuries, Indian farmers were growing the same crops. They made use of our labour without treating them well.

They used to charge a very high rate of land revenue from the agriculturalists as a result the surplus left with the cultivators was insufficient even for their barest minimum sustenance.

In the beginning of 20th century, India along with other countries had registered a considerable increase in its foreign trade. Besides these industries, other industries which were existing in India at the time of arrival of East India Company included stone carving, gold and silver thread work, enamelled jewellery, sandal wood work, marble work, glass bangles making, tanning and leather works, melting and forging of iron, ship building etc.

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Indian Economy on the Eve of Independence