GENERAL KNOWLEDGE

GK

INDIAN ECONOMY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Introduction of ____ tariff policy by the Britishers led to the decay of Indian handicraft industries.
A
Zamindari
B
Modernization
C
Discriminatory
D
None of these
Explanation: 

Detailed explanation-1: -Under discriminatory tariff policy, there was no duty on the export of goods from India and import of British finished goods to India. But heavy duty was placed on the export of handicrafts. So Indian handicrafts stalled looking both domestic and export market. It led to the decay of Indian handicrafts.

Detailed explanation-2: -During the colonial rule, the British followed a discriminatory tariff policy under which they imposed heavy tariffs (export duties) on India’s export of handicraft products, while allowing free export of India’s raw material to Britain and free import of British products to India.

Detailed explanation-3: -Indian handicrafts that had made the country famous collapsed under the colonial rule. This was mainly due to the competition posed by the machine-made goods that were imported from Britain by the British rulers. The British had Indians produce the raw materials for the production of British goods.

There is 1 question to complete.