Indian Economy on the Eve of Independence in One Shot | Economics Class 12th
Commerce Wallah by PWγ»2 minutes read
The video discusses Indian Economics in Andar Economics Chapter one from the book "Indian Economy on the Eve of Independence." It aims to educate viewers on the economic impact of British rule in India and the country's self-reliant past.
Insights
- British colonial rule in India significantly impacted the country's economy by shifting focus towards commercial crops, neglecting agricultural development, exploiting farmers through the Zamindari system, and hindering industrial growth through tariffs on exports, ultimately leading to a decline in self-sufficiency and handicraft industry.
- The British drained India's wealth through trade surpluses, while their infrastructure developments primarily served their own economic interests, not the development of India, highlighting a complex relationship of exploitation and limited positive contributions during their over 190 years of rule.
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Recent questions
Why did the British come to India?
Economic interests and industrial needs.
What were the impacts of British policies on Indian agriculture?
Decline in land fertility and exploitation of farmers.
How did British rule impact Indian handicrafts?
Business ruin due to expensive goods.
What was the state of India's industrial sector under British rule?
Limited industrial development and hindrance to progress.
What were the key features of India's economic landscape under British rule?
Heavy reliance on agriculture and limited industrial growth.
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Summary
00:00
"British Rule Impact on Indian Economy"
- The video discusses Indian Economics in Andar Economics Chapter one from the book "Indian Economy on the Eve of Independence."
- The chapter title, "Indian Economy on the Eve of Independence," signifies the time of freedom from British rule in 1947.
- The British East India Company began its rule in India in 1757 after winning the Battle of Plassey.
- The British ruled India for over 190 years, with a shift from the East India Company to direct British government rule in 1857.
- The British came to India primarily to promote their economic interests and satisfy their country's industrial needs.
- Colonial rule refers to the relationship between the ruling country (Britain) and the colony (India) for economic gain.
- The British established a water route through the Suez Canal in 1869 to shorten the trade distance between India and Britain.
- Before British rule, India was self-reliant, with agriculture as the main profession and renowned for its handicrafts and handloom products.
- The British rule led to the decline of India's self-sufficiency and handicraft industry, impacting the country's economy.
- The video aims to educate viewers on the economic impact of British rule in India and the country's self-reliant past.
15:54
Impact of British Policies on Indian Economy
- The chapter focuses on six key points: agriculture, industries, foreign trade, export, import, demographic, occupational, and infrastructure.
- The state of agriculture in India at the time of British departure is highlighted, emphasizing the conditions and circumstances.
- The impact of British policies on the agriculture sector is discussed, including the shift towards commercial crops like indigo, cotton, and jute.
- The British neglected agricultural development, leading to a decline in land fertility due to the cultivation of commercial crops.
- The British implemented the Zamindari system, exploiting farmers through high rents, taxes, and land ownership seizures.
- The lack of technological advancements, irrigation facilities, and proper agricultural inputs contributed to the stagnation of the agriculture sector.
- Commercialization of agriculture by focusing on cash crops instead of food crops led to a decrease in land productivity and fertility.
- The transition to the industrial sector is introduced, highlighting India's renowned handicraft industry and exports to neighboring countries.
- The British imposed tariffs on Indian exports, hindering the growth of industries and handicrafts.
- The chapter emphasizes the importance of understanding each sector individually to grasp the overall economic landscape of the country.
31:27
Impact of British Industrialization on Indian Handicrafts
- Handicrafts in India suffered due to expensive goods, leading to business ruin.
- British introduced railways in India in 1850, impacting trade and handicrafts negatively.
- Modern industry in India was limited, with TISCO (Tata Iron and Steel Ltd) established in 1907.
- Consumer Goods Industry and Capital Goods Industry were crucial for industrial growth.
- Textile industries in Bengal and jute industries in India were significant.
- Muslin, a special cotton variety, was famous in Bengal for textiles.
- Discriminatory Tariff Policy of British Government affected Indian handicrafts.
- Machine-made products outcompeted handmade goods due to quality and price.
- British industrial development in India was limited, hindering overall progress.
- India's occupational structure at independence showed a heavy reliance on agriculture and limited industrial growth.
47:03
"British Impact on India's Development History"
- Literacy rate in India was only 16, with only 7 out of 100 girls being able to read and write.
- In 1921, the first official census was conducted, revealing a life expectancy of only 32 years in India.
- Infant mortality rate was high, with 218 out of every 1000 children dying before the age of one.
- India's foreign trade primarily involved exporting raw materials and importing finished goods, mainly from British countries.
- The British industrial policy aimed at making India an exporter of raw materials and an importer of finished goods.
- The British drained India's wealth through trade surpluses, using the profits for their own expenses and wars.
- Infrastructure development in India by the British was primarily for their own economic interests, not for India's development.
- Positive contributions by the British included introducing transport facilities, railways, ports, postal services, and banking systems in India.
- Notable events in India during the first half of the 20th century included the Battle of Plassey, introduction of railways in 1850, and the first official census in 1868.
- Economists like Dada Bhai Naoroji and VK RV Rao calculated India's per capita income and GDP growth, with VK RV Rao being considered the most reliable.
01:03:00
Income growth, Tertiary Sector, question preparation advice.
- The total per capita income growth rate was approximately 0.5%. Another name for the service sector is the Tertiary Sector. It is advised to prepare for questions by writing out both the question and answer, ensuring thorough understanding and preparation.
