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CBSE Class 12-commerce Answered

What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
Asked by Harshtezpur | 14 Sep, 2019, 10:57: AM
answered-by-expert Expert Answer
The main focus of the economic policies pursued by the colonial government was to make India a supplier of raw materials to britain's industries and make India a market for finished goods that will be imported from Britain.
 
The impact of the economic policies were :
1. There was low level of economic development as the colonial government was concerned with their own economic interest and of their home country and not about the growth and development of the Indian economy.
2. Agricultural backwardness: Under the colonial rule, zamindari system was followed. Due to this system the farmers were exploited and no efforts were made to develop the agricultural sector as a result there was low productivity.
3. The industrial sector suffered as the policies made India a supplier of cheap raw materials to britain's industries and a market for finished goods that was imported from Britain.  There was a fall of Inida's famous handicraft industry. 
4. There was unfavourable foreign trade as there was British monopoly over India's exports and imports.  Also the surplus earned from foreign trade was not used for the development of the Indian economy but for the interest of themselves. 
Answered by Christina | 15 Sep, 2019, 12:53: PM

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