1. explain the main features of indian economy in mid-18th century?
2.mention any two features indicating india's poverty stagnation on the eve of independence.
The following are a few of the prominent features of Indian economy during 18th century.
1. Weak and Instable Political framework- During this period, small states emerged and fought for their own identity, however, soon say a downturn. Besides this, there were frequent attacks by Nadir Shah, followed by Ahmad Shah Abdali and Rohillas. All these exploited Indian economy to a significant extent. Also, these frequent attacks acted as tolls on the Indian economy and resources.
2. Increasing grip of East India Company- Since the inception of the eighteenth century, the East India Company started tightening its grip over all the spheres of Indian economy. First, it was Bengal, then the monopoly hold on Indian foreign trade and lastly on the every economic aspects of India. This led to the utilisation of Indian resources either in the agriculture sector, industrial sector or the foreign trade to best suit to the economic interests of the Britain.
3. Bleak Agriculture Sector- With the gradual emergence of the British rule in India, the agricultural sector was utilised to fulfil British Industries. The raw material from the agricultural sector were churned-out to feed the British Industries to produce the finished clothes. In this regard, the Indigo Revolt in India is worth quoting. Gradually, the role of Indian agricultural sector was
reduce to mere subservient for the British interest.
4. Frequent Famines and Widespread Epidemics- During the eighteenth century, due to bleak agricultural sector in terms of productivity and lack of modernisation, failed to insulate Indian population from the frequent visits of famines. Besides this, there were widespread epidemics and spread of deadly diseases, that literally affected Indian population and economic prosperity.
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1. Weak and Instable Political framework- During this period, small states emerged and fought for their own identity, however, soon say a downturn. Besides this, there were frequent attacks by Nadir Shah, followed by Ahmad Shah Abdali and Rohillas. All these exploited Indian economy to a significant extent. Also, these frequent attacks acted as tolls on the Indian economy and resources.
2. Increasing grip of East India Company- Since the inception of the eighteenth century, the East India Company started tightening its grip over all the spheres of Indian economy. First, it was Bengal, then the monopoly hold on Indian foreign trade and lastly on the every economic aspects of India. This led to the utilisation of Indian resources either in the agriculture sector, industrial sector or the foreign trade to best suit to the economic interests of the Britain.
3. Bleak Agriculture Sector- With the gradual emergence of the British rule in India, the agricultural sector was utilised to fulfil British Industries. The raw material from the agricultural sector were churned-out to feed the British Industries to produce the finished clothes. In this regard, the Indigo Revolt in India is worth quoting. Gradually, the role of Indian agricultural sector was
reduce to mere subservient for the British interest.
4. Frequent Famines and Widespread Epidemics- During the eighteenth century, due to bleak agricultural sector in terms of productivity and lack of modernisation, failed to insulate Indian population from the frequent visits of famines. Besides this, there were widespread epidemics and spread of deadly diseases, that literally affected Indian population and economic prosperity.
Due to paucity of time, as we need to cater to the needs of other students as well, we are presently providing you with the answer to one of your question. Keep posting!!