Q. Which of the following statements is/are correct regarding the free trade imperialism phase:
Select the correct answer using the code given below:
Q. Which of the following statements is/are correct regarding the free trade imperialism phase:
Select the correct answer using the code given below:
The correct option is A 1 and 2 only
Explanation:
Statements 1 and 2 are correct: In this phase, the emerging British capitalist class wanted to end the monopoly of EIC over Indian trade in order to access cheap raw materials. Also, colonial policies shifted to secure access to the Indian market for its finished goods.
- Setting up a new politico-administrative approach with an objective of the fulfilment of free trade. Changes in Approach
- India’s colonial economy was integrated with the British & world capitalist economy with the introduction of free trade.
- All import duties in India were either totally removed or drastically reduced to nominal rates. The government gave active State help to British capitalists to develop tea, coffee & indigo plantations, trade, transport, mining & modern industries in India.
Dominant Features of this Period
- British aimed To transform the traditional agrarian structure into a capitalist one, the Ryotwari system was introduced.
- The administration was made more comprehensive to make the transportation of British goods & agricultural products to & fro from the interior & remotest parts.
- Modern education was introduced to provide cheap manpower to the vastly expanded administration.
- The taxation & the burden on peasants rose sharply due to economic transformation & costly administration
Statement 3 is incorrect: the British government never made any conscious efforts to promote the modern industry in India since a competent domestic modern industry may hamper the prospect of British capitalists. rather its policies lead to the de-industrialisation of traditional industries.
Explanation:
Statements 1 and 2 are correct: In this phase, the emerging British capitalist class wanted to end the monopoly of EIC over Indian trade in order to access cheap raw materials. Also, colonial policies shifted to secure access to the Indian market for its finished goods.
- Setting up a new politico-administrative approach with an objective of the fulfilment of free trade. Changes in Approach
- India’s colonial economy was integrated with the British & world capitalist economy with the introduction of free trade.
- All import duties in India were either totally removed or drastically reduced to nominal rates. The government gave active State help to British capitalists to develop tea, coffee & indigo plantations, trade, transport, mining & modern industries in India.
Dominant Features of this Period
- British aimed To transform the traditional agrarian structure into a capitalist one, the Ryotwari system was introduced.
- The administration was made more comprehensive to make the transportation of British goods & agricultural products to & fro from the interior & remotest parts.
- Modern education was introduced to provide cheap manpower to the vastly expanded administration.
- The taxation & the burden on peasants rose sharply due to economic transformation & costly administration
Statement 3 is incorrect: the British government never made any conscious efforts to promote the modern industry in India since a competent domestic modern industry may hamper the prospect of British capitalists. rather its policies lead to the de-industrialisation of traditional industries.
