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North South Divide in the Indian Growth

In: Business and Management

Submitted By ambasingh
Words 2710
Pages 11

In the pre-British period, the economy of India was many divided into two major sectors, mainly, the self-sustaining village and the other was the towns which had administration, commerce, transportation and communication even though it was highly underdeveloped and the market size was also considerable small. India was evaded and conquered even before the Britishers but the only difference because of their invasion was emergence of new political and economic reforms and systems. The British Raj, also known as, the British Rule was mainly two epochs; first the rule of East India Company (1757-1858) and the second, The British Government in India (1858-1947). During these periods, England was working on making changes in the techniques and ways of production which made way for the revolution of manufacturing. This made the Britishers sell their machine made goods here in India against the Indian handicrafts. The supreme goal of Britishers was towards acceleration of economic drain of India through the creation of revenue settlement, spreading education, development of railways etc. The consequences of the British conquest in the economy of India was mainly cause of the following reasons; 1. Decline of the Indian handicrafts and aggressive ruralization of the Indian economy. 2. Commercialization of Indian agriculture and the new land system. 3. Industrialization in India. The pre-independence economy estimates the value of output of the agricultural sector and then added a certain percentage of the non-agricultural sector’s income. The economy of India was divided into two categories; Input Method and Output Method. Input Method includes trade, transportation, administration, profession, industries, service etc. whereas the Output Method includes agriculture, forests, fishing, mines etc. To these methods, the household...

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