Drain of Wealth Theory
Who is famously associated with the concept of 'Drain of Wealth' from India?
- V.K.R.V. Rao
- Dadabhai Naoroji — Correct Answer
- R.C. Desai
- William Digby
Explanation:
Correct Answer Explanation
Dadabhai Naoroji is famously associated with the 'Drain of Wealth' theory. He highlighted how India's wealth was drained to Britain.
Key Points:
- Known as the 'Grand Old Man of India'.
- Wrote 'Poverty and Un-British Rule in India'.
- The drain included: colonial office expenses, war expenses, and invisible imports.
- India's export surplus did not bring any gold or silver into India.
📚 About this Topic — CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE
This multiple choice question is from CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE to strengthen your preparation.
