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Question
In the Indian economy prior to 1947, there was virtually no ___________ in the Indian economy.
In the Indian economy prior to 1947, there was virtually no ___________ in the Indian economy.
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Solution
The correct option is C Public sector
The British rule lasted for two centuries before India won its independence in 1947. The sole purpose of the British economic policy was to reduce India into a feeder economy for expansion of Britain’s own modern industrial base. There was virtually no public sector in the Indian economy. Pre-independence India had a flourishing economy based on agriculture and handicrafts. The quality of workmanship in the field on textiles and precious stones was high leading to a worldwide base for Indian products. The British policy was to turn India into an exporter of raw materials and consumer of finished goods. This led to the disruption of the Indian economy. The British never made any attempt to calculate the national or per capita income.
The British rule lasted for two centuries before India won its independence in 1947. The sole purpose of the British economic policy was to reduce India into a feeder economy for expansion of Britain’s own modern industrial base. There was virtually no public sector in the Indian economy.
Pre-independence India had a flourishing economy based on agriculture and handicrafts. The quality of workmanship in the field on textiles and precious stones was high leading to a worldwide base for Indian products. The British policy was to turn India into an exporter of raw materials and consumer of finished goods. This led to the disruption of the Indian economy. The British never made any attempt to calculate the national or per capita income.
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