Which of the following statements is incorrect about ldquo Drain of Wealth rdquo theory in context o...........

Modern Indian History 1857-1885

Download Solution PDF

Which of the following statements is incorrect about “Drain of Wealth” theory in context of Indian freedom struggle?

The Drain of Wealth theory was systemically initiated by Dadabhai Naoroji.

Through this theory Naoroji sought to prove that Britain was draining money out of India.

Drain of Wealth included “Home Charges”

All the statements are correct.

छोटे Courses बड़े Results

Master 1857-1885

Prepare through Micro-courses

Try Now

Explanation:

The Drain of Wealth theory, primarily propounded by Dadabhai Naoroji, holds that a large part of India’s national wealth or total annual product was exported to England for which the Indians got no adequate returns. ‘Home Charges’ was one of the major components of the drain of wealth that included the administrative and military expenses of the Indian government in Britain.