Who wrote about India’s drain of wealth in his book?

Which book talks about India’s drain of wealth who wrote it?

Detailed Solution. The correct answer is Dadabhai Naoroji. Dadabhai Naoroji wrote the book ‘Drain of Wealth’. The two books which wrote by Dada Bhai Naoroji, explaining the drain of Indian’s wealth were Poverty and the unBritish Rule in India and Poverty of India.

Who wrote the drain of wealth?

In 1867, Dadabhai Naoroji put forward the ‘drain of wealth’ theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India. Further in his book , he stated the loss of 200-300 million pounds of revenue to Britain.

Who wrote the book drain theory?

Amazon.in: Buy Dadabhai Naoroji and the Drain Theory Book Online at Low Prices in India | Dadabhai Naoroji and the Drain Theory Reviews & Ratings.

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Who exposed the drain of wealth theory and in which book?

D) Poverty and Un-British Rule in India. Hint: Dadabhai Naoroji, in 1867, put forward a theory which he called ‘drain of wealth’ in which he mentioned that Britain was draining India of its wealth. He mentions this theory in his book which he wrote to expose the exploitation from the British on India and its wealth.

Who first cited the drain of wealth in his book?

In 1867, Dadabhai Naoroji put forward the ‘drain of wealth’ theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India. He put forward the idea that Britain was draining and bleeding India and that, too, for nothing.

What is Adam Smith’s main idea?

The central thesis of Smith’s “The Wealth of Nations” is that our individual need to fulfill self-interest results in societal benefit, in what is known as his “invisible hand”.

What is meant by drain theory?

The theory proposed that poverty in India was caused by a combination of various internal causes. C. The theory proposed that poverty in India was caused by the colonial rule that was draining the wealth and prosperity of India.

Who is the father of economics in India?

The rest is history. Looking back, Narasimha Rao can truly be called the father of economic reforms in India,” the former Prime Minister said. Dr Singh also recalled the political journey of Mr Rao that started from the days of the freedom struggle.

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What is Indian wealth drain?

The drain of Indian wealth during colonial period : The drain of Indian wealth during colonial period means using export surplus as payments for expense incurred by an office set up by the colonial government in Britain, expenses on war fought by the British Government and the import of invisible items.

What is drain wealth?

The transfer of wealth from India to England for which Indian got no proportionate economic return, is called the Drain of Wealth. Till the Battle of Plassey, the European traders used to bring gold into India to buy Indian cotton and silk.

Who wrote the book Poverty and Un-British Rule in India?

Detailed Solution. The correct answer is Dada Bhai Naroji. This book was published in 1901 and written by Dada Bhai Naoroji. This book mentioned the concept of the theory of ‘Drain of Wealth’ from India to Britain during the British Rule in India.

Who started Indian Voice newspaper?

Voice of India

Status Active
Founded 1940
Founder Ram Swarup Sita Ram Goel
Country of origin India
Headquarters location Shanti Mohalla, Gandhi Nagar, Delhi

How was wealth drain from India to England?

However, after the conquest of Bengal, the British stopped getting gold into India. They began to purchase raw material for their industries in England from the surplus revenues of Bengal. Thus, began the process of plundering India’s raw materials, resources and wealth to England.

Who did not believe in drain of wealth theory?

From all these options Sir syed Ahmed Khan is answer.

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Who was the founder of British rule in India?

Robert Clive is regarded as the founder of British rule in India. Starting his career as a clerk in the East India Company, he would rise through the ranks to command British forces at the battle of Plassey.