Indian Economy on the Eve of Independence

Vocabulary flashcards based on the key concepts from the lecture notes on the Indian economy on the eve of independence.

Zamindari System

A land settlement system where zamindars were the owners of the land and collected rent from cultivators.

Deindustrialisation

The decline of the Indian handicraft industry due to biased tariff policies, unfair competition, and the disappearance of princely courts.

Occupational Structure

The distribution of population engaged in various occupations, with a majority in agriculture and smaller percentages in manufacturing and service sectors.

Commercialisation of Agriculture

The shift from subsistence farming to producing agricultural products based on market requirements, driven by the colonial government.

Land Revenue Systems

Various tax systems implemented for agricultural land, including Ryotwari, Mahalwari, and Zamindari, each affecting land ownership and cultivation practices.

Green Revolution

A period of agricultural transformation in India during the 1960s and 1970s, characterized by the use of high-yield variety (HYV) seeds, fertilizers, and irrigation techniques to increase food production.

Industrialisation

A process of social and economic change that transforms a human group from an agrarian society into an industrial one.

Economic Nationalism

An ideology that emphasizes the interests of a nation's economy over those of foreign influences, often leading to protectionist policies.

Colonial Economy

An economic system established during the colonial period, characterized by the exploitation of the colonized country's resources for the benefit of the colonial power.

Suez Canal

Opened in 1869, it reduced transport costs between India and Britain, but also led to British monopoly over India's foreign trade.

Year of Great Divide

1921, marking a demographic transition with a significant increase in population due to lowered death rates.

Occupational Structure

The distribution of population engaged in various occupations, with a majority in agriculture and smaller percentages in manufacturing and service sectors.

Commercialisation of Agriculture

The shift from subsistence farming to producing agricultural products based

Colonial Economy

• The colonial economy refers to the economic system established during the colonial period.
• Characterized by the systematic exploitation of the colonized country's natural and human resources.
• Primarily served the interests of colonial powers, leading to the extraction of wealth and raw materials.
• Involved forced labor, land appropriation, and cash crop plantations for the benefit of the colonial market.
• Resulted in significant economic and social disparities for the colonized populations.

Suez Canal

• Opened in 1869, the Suez Canal was a monumental engineering achievement.
• Provided a direct maritime link between the Mediterranean Sea and the Red Sea.
• Reduced travel distances for ships between Europe and Asia, significantly enhancing global trade efficiency.
• Facilitated quicker transport of goods to and from India to Britain.
• Led to a British monopoly over India’s foreign trade, limiting independence for local traders.

Deindustrialisation

• Deindustrialisation describes the decline of traditional industries, particularly the handicraft sector.
• Resulted from colonial economic policies that favored British manufactured goods.
• Discriminatory tariffs made it difficult for local artisans to compete with mechanized production in Britain.
• The rise of imported inexpensive goods undermined indigenous products.
• Contributed to economic turmoil and social disruption in communities reliant on handicrafts.

Zamindari System

• The Zamindari system was a land revenue system under British rule.
• Designated zamindars as the owners of extensive land holdings.
• Zamindars were responsible for collecting rent from the tenant farmers.
• Aimed to generate revenue for the British administration but often led to exploitation of peasants.
• Resulted in inequalities, with many farmers falling into debt and poverty due to high rents.

Year of Great Divide

• The Year of Great Divide refers to 1921, marking a pivotal demographic shift in India.
• Characterized by a significant reduction in death rates due to improved public health and sanitation.
• Increase in population highlighted social and economic challenges, including food scarcity.
• Colonial economy struggled to support the growing populace, leading to increased tensions.
• Set the stage for social movements and calls for political independence.

Occupational Structure

• Occupational structure refers to the distribution of the population among various economic activities.
• A significant portion of the Indian workforce has historically been engaged in agriculture.
• Changing economic policies have led to a gradual shift toward manufacturing and services.
• Reflects broader social transformations as individuals move towards new economic opportunities.
• Impacts economic growth and the nature of labor in the country.

Commercialisation of Agriculture

• Commercialisation of agriculture represents a transformative approach to farming practices where the focus shifts from subsistence to market-oriented production.
• This transition was heavily influenced by colonial policies encouraging farmers to prioritize cash crops that were more profitable in global markets.
• As farmers began to produce primarily for sale rather than for personal consumption, agricultural outputs increased to meet the demands of the market.
• This shift enabled farmers to potentially increase their income, but it also exposed them to economic risks associated with market fluctuations and price volatility.
• Farmers became increasingly reliant on market conditions, which could make them vulnerable to international price changes for their crops, affecting their financial stability.
• The focus on cash crops often led to the neglect of food crops, creating challenges for local food security and impacting the nutritional needs of the farming communities.
• This shift contributed to significant changes in rural economies, altering traditional farming practices, social