Drain Theory

  Dadabhai Naoroji: ‘Poverty in India’ (1876) He claimed that the drain of wealth and capital from the country which started after 1757 was responsible for absence of development in India. Drain was done through trade, industry and finance Two elements of the drain That arising from the remittances by European officials of their savings, … Read more Drain Theory

Industrial Transition in India

  The process of industrial transition divided into: industrial growth during the 19th century and industrial progress during the 20th century Industrial growth during the 19th century Decline of indigenous industries and the rise of large scale modern industries 1850-55: first cotton mill, first jute mill and the first coal mine established. Railway also introduced. … Read more Industrial Transition in India

India under the British Rule

  The economic consequences of the British rule can be studied under three heads: Decline of Indian Handicrafts and progressive ruralisation of the Indian economy Growth of the new land system and the commercialisation of Indian agriculture Process of industrial transition of India Decline of Handicrafts While India was an exporter of Handicrafts before the … Read more India under the British Rule

Services

Current Status It is the largest and fastest growing sector globally contributing to the global output and employing more people than any other sector Why has services sector grown? Increase in urbanisation, privatisation and more demand for intermediate and final consumer services Availability of quality services is vital for the well being of the economy … Read more Services

Tax Reforms in India, Direct & Indirect Tax Reforms. Subsidies- Cash Transfer of Subsidy Issue.

Sience 1990 ie the liberalization of Indian economy saw the beginning of Taxation reforms in the nation. The taxation system in the nation has been subjected to consistent and comprehensive reform. Following factors arise the need for tax reforms in India:- Tax resources must be maximized for increased social sector investment in the economy. International competitiveness … Read more Tax Reforms in India, Direct & Indirect Tax Reforms. Subsidies- Cash Transfer of Subsidy Issue.