Facets of economic policies of the British in India from mid-eighteenth century till independence.

Q. Examine critically the various facets of economic policies of the British in India from mid-eighteenth century till independence.

Answer:

Here are some key points to consider when examining the economic policies of the British in India from the mid-18th century until independence:

• The British East India Company, which was granted a monopoly on trade with India by the British government, implemented a number of economic policies designed to extract wealth and resources from the country.

• The British introduced a series of land revenue systems, including the Permanent Settlement, which aimed to increase tax revenues by requiring farmers to pay fixed amounts of tax on their land.

• The British also implemented policies designed to encourage the production of certain crops, such as opium and indigo, which were then exported to Europe.

• The British encouraged the development of infrastructure, including roads, railways, and ports, which facilitated the movement of goods and people within India and facilitated trade with other countries.

• The British implemented policies that protected their own industries and businesses, while simultaneously restricting the development of Indian industries and businesses.

• The British also imposed high tariffs on imported goods, which made it difficult for Indian businesses to compete with British products.

• Overall, the economic policies of the British in India were designed to benefit British interests at the expense of the Indian economy and people.