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This chapter explores the economic condition of India on the eve of its independence in 1947, focusing on the colonial legacies that stunted agricultural and industrial development. It discusses the underdevelopment caused by British policies, which prioritized raw material extraction and created significant disparities in wealth and productivity across different sectors. The chapter concludes with a reflection on the social challenges and infrastructural deficits that India faced as it transitioned to independence.
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1.2
Low Level Of Economic Development Under The Colonial Rule
This section delves into the low economic development of India during British colonial rule, highlighting how colonial policies transformed the nation into a supplier of raw materials while stunting industrial and agricultural growth.
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Term: Colonial Rule
Definition: The period of British control over India which significantly shaped its economic framework and development processes.
Term: Stagnation
Definition: A condition in which the agricultural and industrial productivity remained low and unchanging, despite population dependency on these sectors.
Term: Infrastructure
Definition: The basic physical systems essential for the functioning of a society, including transport and telecommunications, which were developed primarily for colonial exploitation rather than local benefit.
Term: Drain of Wealth
Definition: The outflow of resources and wealth from India to Britain without corresponding benefits to the local economy.