GK
INDIAN HISTORY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following statement relates the Dadabhai Naoroji’s definition of ‘Drain of Wealth’?
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Those resources of the country were being utilized in the interest of Britain.
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That a part of India’s national wealth or total annual product was being exported to Britain for which India got no material return.
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That the British industrialists were being given an opportunity to invest in India under the protection of the imperial power.
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That the British goods were being imported into the country making it poorer day by day.
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Explanation:
Detailed explanation-1: -The drain of wealth theory was propounded by Dadabhai Naoroji in 19th century. During the colonial period the British exploited the Indian resources and their prime motive to conquer India was that they could make it a source for cheap raw materials for their own industries.
Detailed explanation-2: -Dadabhai Naoroji’s mentioned the concept of drain of wealth from India during British rule in his book Poverty and Un-British Rule in India.
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