Civil Engineering Course by Engineers Career Group, Geography Optional for UPSC Mains by Studies Foundation Course by Lukmaan IAS, Geography The revenues going to the Company had been termed by historians as a political tribute. The Drain of Wealth theory was systemically initiated by Dadabhai Naoroji in 1867 and further analysed and developed by R.P. It included the monies paid to banks, insurance companies, shipping companies etc., in England for the services they render in India. Syllabus, APPSC Thus, under the Company's rule, India was caught in a never-ending, self-contained system of drain of wealth. Participation of Indian women in Freedom Struggle. Such remittances by the Company later came to be known as the 'Home Charges' when the British Parliament took over administrative control of India. PSC, Jammu & Kashmir In his work, "Economic History of India", Dutt had equated the drain of wealth to moisture being sucked out of Indian soil to fertilize the lands in England. Details, SSC CGL Exam Pass JEE Main + Advanced XII NEET PSC - Exam Pattern and Syllabus, Meghalaya Mains Optional Subjects, UPSC Exam Paper, IES This was because the political power enjoyed by the Company was the reason for its ability to generate revenues out of Indian territories and it was a tribute in the sense that India did not get anything in return for paying such revenues. Prelims 2020 Answer Key & Cut Off, JKPSC the most difficult exams, Live Online. Admit Card, SSC NEET 57 lakh per annum between 1813 and 1820. Answer Key, GATE card, RRB JE Exam Pattern, UPSC CAPF 2018 Prepare for Lop sided pattern of industrial development occurred. PSC - Recruitment Notification, Meghalaya and Tele Communication, Computer It was instrumental in laying the foundations for the demand for Swaraj which was raised by the Extremist leaders such as B.G.Tilak. Pattern, IES Officer Coaching, IAS Answer Booklets, History The constant flow of national wealth from India to England for which India did not get an adequate economic, commercial or material return has been described by Indian national leaders and economists as ‘drain’ of wealth from India. Exam Pattern, KPSC Course, Target - XII He lamented that the perversion of economic laws in India by the British rule is draining India of its prosperity and is destroying the nation. The Company used the revenues for extending its territories in India i.e., they were used to finance the Company's military campaigns against native rulers. 2014-2019, Writing Practice for UPSC Mains, IAS Toppers meaning and components of economic drain of wealth from British India; Drain Theory in Dadabhai Naoroji’s book poverty and unBritish rule in India; quantitative estimation made by Dadabhai Naoroji, G.V. Answer Key, MPSC What is India's position on these? 16. Syllabus, Sikkim PSC, IES Exam The Company's remittances to England also formed a major part of the drain. Prelims Syllabus, UPSC GS Dutt. MCQs, Development of means of Communication and Transport, Public Significance of Royal India Navy (RIN) mutiny, Dickie Bird Plan of Mountbatten: 'Plan Balkan'. off, Current Reasons for Congress to accept partition of the co... Subhash Chandra Bose's contribution to India's fre... Freedom of press in India: Major regulation by Bri... Ideological basis of the moderate extremist divide, Challenges in Integration of princely states. Dutt, M.G R... Statutory body can simply be abolished by an act of the parliament with simple majority. The Company initially had a dual role. Pattern, MPSC – Electronics Engineering Course by Engineers Career Group, GATE Remittances to England by Europeans to their families. Previous Year Question Papers, UPSC Card, GATE Class XII JEE Main + Advanced Tarique Khan, Sociology Drain of wealth. Feynman IAS, Alok S. Jha - AAI Course, Fresher - GDS Soni - He wrote (in his work "Poverty and Un-British Rule in India", 1880) that it was the pitiless action of British policy which was eating India off its substance. Syllabus, KPSC CGL Recruitment, Notification, Online Application,