User:Purnima04dhiver/sandbox

Drain of wealth: Britishers had drained India’s wealth to England through various ways such as remittance of private fortune acquired By way of plunder, tribute and gifts; salary and pensions paid to the British civil and military official; remittance of money to England for purchases by them of British goods in India; British government in India were also transferred to England through raw materials purchased in India. They early nationalists made a bold attack on the nature and impact of the British economic policies on India through the drain theory. A Major problem the early nationalist highlighted was that of the progressive decline and ruin of India’s traditional handicraft. The home charges: The government of India had to make huge payment to people in England on account of political, administrative And commercial connections were called as’ home charges’. ACCORDING TO NATIONALIST ESTMATED THAT BRITISHERS HAD HOME CHARGED AT THIRTY-FIVE MILLION POUND ANNUALY.IT WAS ALSO CALCULATED THAT ONE-FOURTH OF ALL THE REVENUE DERIVED IN INDIA REMITTED TO ENGLAND AS HOME CHARGES. ACCORDING TO DADBHAI NAOROJI HE WAS A POWERFUL AND LEADER OF INDIAN NATIONATIONALIST ESTIMATED THAT FOREIGN CAPITAL REPRESENTD THE ‘DASPOILATION’ AND “EXPLOITATION” OF INDIAN RESOURCES. ALONG WITH DADABHAI NAOROJI, M.J.RANADEJI ANDR.C.DUTT WAS THE OTHER NATIONALSTS WHO DETAILED THAT THE EXTREMELY DISASTROUS EFFECT OF THE DRAIN. THEY POINTED OUT THAT “ the taxation raised by a king is like the moisture sucked up by the sun ,to be returned to the earth as fertilizing rain; but the moisture raised from the Indian soil now descend as fertilizing rain largely on other land ,not on India … so great an economic drain out of the resources of a land would impoverish the most prosperous countries on earth ; it has reduced India to a land of famines more frequent ,more widespread, more fatal than any known before in the history of India. Effects of drain of wealth: harmful effect of drain on employment and income: Nairobi, R.C.Dutt and s.n. Banarjee were aware of the fact that the drain had harmful effect on Indian economy as well as on employment and income with the country. They pointed out the drain not only the spending abroad of certain portion of national income but also the further loss of employment and income that would have been generated in the country , Drain as loss of capital: The early nationalist leader interpreted the drain of India’s wealth as a loss of capital rather than loss of wealth. They said that the drain harmed chiefly because it resulted in the depressions of the India economy. They Tried to analyse and point out the effect of the drain on income and wealth, on capital, on industrial development, on land revenue, on trade and wealth, on capital, on industrial development, on poverty of the Indian people. Rural impoverishment: rural distress and poverty in the countryside attracted of the attention of the early nationalist from the very beginning. But poor peoples were not aware that what’s happening in their country.