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Consider the following activities of British during colonial times:
1.Transforming India into a net supplier of raw materials.
2.India became consumer of finished industrial products from Britain.
3.The colonial government never made any sincere attempt to estimate India’s national and per capita income.
Which of the statements given above is/are correct?
1 and 2 only
2 and 3 only
1 and 3 only
1,2 and 3
The economic policies pursued by the colonial government in India were concerned more with the protection and promotion of the economic interests of their home country than with the development of the Indian economy. Such policies brought about a fundamental change in the structure of the Indian economy — transforming the country into a net supplier of raw materials and consumer of finished industrial products from Britain. Obviously, the colonial government never made any sincere attempt to estimate India’s national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results. Among the notable estimators — Dadabhai Naoroji, William Digby, Findlay Shirras, V.K.R.V. Rao and R.C. Desai — it was Rao whose estimates of the national and per capita incomes during the colonial period were considered very significant.
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