Indian Economy on the Eve of Independence
2 Board Economics previous year questions on Indian Economy on the Eve of Independence — options free on every question; 1 include the answer & explanation free, the rest unlock with PYQ Pass.
Read the following statements carefully. 1
Statement 1: During British rule in India, the export surplus was utilised to import invisible items from Britain.
Statement 2: Indians paid for the expenses incurred by an office set up by the colonial government in Britain.
In the light of the above statements, choose the correct option from the following:
Both Statements 1 and 2 are true.
(C) Both Statements 1 and 2 are true.
Explanation:
Statement 1 is True
During British rule, India had export surplus, but the earnings were used to pay for:
- Administrative expenses,
- War expenses,
- Import of invisible items from Britain.
Statement 2 is also True
The colonial government maintained an office in Britain called the India Office, and its expenses were paid by Indian revenues.
These payments formed part of the economic drain from India to Britain.
Read the following statements: Assertion (A) and Reason (R).
Choose the correct option from those given below. 1
Assertion (A): The Government of India adopted the measure of regulation of markets to improve marketing conditions for agricultural products.
Reason (R): Regulation of markets ensured transparent pricing, fair trade practices, and protection for farmers against exploitation in agricultural marketing.
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