Indian Economy Before and After Independence

British Rule Duration

British rule lasted from 1757 to 1947.

Battle of Plassey

Established British Empire in India in 1757.

Feeder Economy

India served British economy's resource needs.

Exploitation of Resources

British rule exploited India's natural and human resources.

Independence Date

India gained independence on August 15, 1947.

Pre-Independence Economy

Characterized by self-reliance and prosperity.

Agrarian Economy

Agriculture was primary livelihood for two-thirds of population.

Handicraft Industries

Known for textiles and metal works before independence.

Muslin Fabric

Cotton textile originating from Bengal, famous worldwide.

Daccai Muslin

Exquisite cotton textile exported to Europe and Middle East.

Malmal

Finest variety of muslin, fit for royalty.

Colonial Economic Policies

Focused on British interests over Indian development.

Economic Stagnation

Underdevelopment and stagnation characterized India's economy pre-independence.

Textile Industry

Renowned for quality cotton and silk textiles.

Population Engagement

Two-thirds of Indians engaged in agriculture.

Historical Impact

British rule altered India's economic trajectory significantly.

Post-Independence Strategy

Focus on understanding pre-independence economic conditions.

Craftsmanship Standards

High standards led to global reputation of handicrafts.

Economic Development Phases

Understanding phases is crucial for current economic status.

Colonial Rule Effects

Severe negative impact on Indian economic structure.

Self-Reliant Economy

India was independent and self-sufficient before British rule.

Global Market Presence

Indian handicrafts had a significant worldwide market.

Colonialism

Political and social relations between ruler and colony.

Underdevelopment

Economic stagnation due to colonial exploitation.

National Income

Total income of a nation over a period.

Per Capita Income

Average income per person in a nation.

Dadabhai Naoroji

Early economist estimating India's national income.

William Digby

Expert who estimated India's economic conditions.

Findlay Shirras

Contributed to India's income estimation efforts.

V.K.R.V. Rao

Notable economist with significant income estimates.

R.C. Desai

Economist involved in estimating national income.

Aggregate Real Output

Total production of goods and services.

Zamindari System

Land tenure system benefiting zamindars over cultivators.

Lagaan

Tax collected from farmers by zamindars.

Permanent Settlement System

Introduced in 1793 to increase colonial revenue.

Agricultural Stagnation

Lack of growth in agricultural productivity.

Rural Economy

Economy primarily based on agriculture and villages.

Self-Sufficiency

Ability to meet all food and material needs.

Colonial Government

British authority governing India and its policies.

Economic Policies

Strategies determined by the ruling country.

Conflicting Estimates

Discrepancies in income data from various experts.

Low Growth Rate

Less than 0.5% growth in per capita output.

Pre-British Agriculture

Agricultural conditions before British colonial rule.

Population in Agriculture

85% of Indians engaged in farming.

Economic Condition of Cultivators

Well-being of farmers under zamindari exploitation.

Zamindars

Landowners collecting rent from farmers under British rule.

Lagaan

Rent imposed by zamindars on farmers.

Intermediaries

Zamindars acted between farmers and British government.

Exploitation

Zamindars extracted excessive rent from farmers.

Commercialisation of Agriculture

Producing crops for market sale instead of self-consumption.

Cash Crops

Crops like cotton and jute produced for profit.

Food Crops

Crops grown primarily for personal consumption.

British Industries

Industries in Britain needing raw materials from India.

Famine

Severe shortage of food leading to starvation.

Self-sufficiency

Ability of villages to provide for their own needs.

Low Productivity

Insufficient agricultural output due to poor practices.

Irrigation Facilities

Infrastructure for supplying water to crops.

Investment Scarcity

Lack of funds for improving agricultural practices.

Cropping Pattern

Types of crops grown in a particular area.

Rainfall Dependence

Farmers relied on rain for crop irrigation.

Technical Education

Training in modern agricultural techniques.

Mass Education

Widespread education to improve agricultural practices.

Terracing

Land modification to prevent soil erosion and manage water.

Flood-Control

Measures to manage excess water from floods.

Drainage

System for removing excess water from fields.

Sharecroppers

Farmers who work land owned by others for a share.

Sharecropping

Agriculture where tenants share crop yields with landowners.

Partition of India

Division leading to loss of fertile land for India.

Jute Industry

India's jute production suffered due to partition.

De-industrialisation

Decline of Indian handicraft industries under British rule.

Handicraft Industries

Traditional Indian industries known for unique craftsmanship.

Discriminatory Tariff Policy

Tariffs favoring British goods over Indian handicrafts.

Duty-free Export

No taxes on exporting raw materials from India.

Duty-free Import

No taxes on importing British finished goods to India.

High Level of Unemployment

Mass unemployment due to decline of handicraft industries.

Overcrowding in Agriculture

Increased population pressure on agricultural land post-handicraft decline.

Finished Goods Imports

Increased imports of cheap British goods into India.

Capital Goods Industries

Industries producing machinery for other production processes.

British Economic Policy

Focused on extracting resources and selling British goods.

Lack of Industrial Base

Insufficient development of industries under British rule.

Economic Setback

Negative impact on agriculture from partition and policies.

Artisan Displacement

Craftsmen forced into agriculture due to industry decline.

Raw Material Extraction

British policy aimed at sourcing cheap materials from India.

Market Competition

Indian goods unable to compete with British imports.

Consumer Demand

Increased demand for goods not met by local production.

Colonial Exploitation

British rule aimed at maximizing profits from India.

Industrial Reputation

India's historical recognition for quality handicrafts.