Question 1

What was the state of the Indian economy on the eve of independence?

Accepted Answer

The Indian economy on the eve of independence was stagnant, backward, and agricultural-dominated due to two centuries of British colonial rule. Agriculture was plagued by low productivity, stagnation, and lack of technology, while the industrial sector suffered from systematic de-industrialization.

Question 2

Which sector was the principal source of livelihood for most of India's population on the eve of independence?

Accepted Answer

Agriculture was the principal source of livelihood for about 85% of India's population on the eve of independence. Despite engaging such a vast workforce, the sector remained extremely backward, stagnant, and caught in low productivity traps due to exploitative land revenue systems like the Zamindar

Question 3

What was the primary motive of the British colonial government's economic policies in India?

Accepted Answer

The primary motive of the British colonial government's economic policies was to protect and promote the economic interests of their home country, Britain. India was systematically transformed into a mere supplier of raw materials for British industries and a captive market for finished industrial p

Question 4

The system of land settlement introduced in the lower Ganges region by the British colonial government was known as:

Accepted Answer

The system of land settlement introduced in the lower Ganges region (and other parts) was known as the Zamindari system. Under this system, the profits accruing from agriculture went to the Zamindars instead of the cultivators. This led to immense exploitation of the tillers of the soil and resulted

Question 5

What led to the decay of India's world-famous handicraft industries during the British rule?

Accepted Answer

The decay of India's world-famous handicraft industries was caused by the discriminatory tariff policy of the colonial government. They imposed heavy export duties on Indian handicrafts while allowing duty-free import of machine-made British goods into India. This unfair competition destroyed tradit

Indian Economy on the Eve of Independence