Rich bankers and merchants became the most politically influential people in their provinces as they lent money to revenue farmers, received land as security and collected taxes through their agents. explain the statement

Open in App

Solution

Rich bankers and merchants gained power and fame because of their capability to lend money to others, receive land as security and collect taxes.This made them influential politically also and make them rulers.

Suggest Corrections

Similar questions

Q. Select the correct option after reading the statements.
1) During the reign of Sa'adat Khan, social groups that included money lenders and bankers became powerful and began to control the revenues of the state.
2) If the revenue farmers or Ijaradars weren't able to pay the fixed revenue, local bankers guaranteed the payment of this money to the state.

Q. Select the correct option after reading the statements.
1) The economic situation of the Mughal empire deteriorated during the reign of the later Mughals.
2) As the governors increased their control over the provinces, they stopped sending tax revenues to the rulers.

Q. Banker: By transferring income to a retirement account of our bank, people can save money by delaying payment of taxes. Accountant: That plan won't actually save money because the taxes with have to be paid sometime in the future when the money is withdrawn.
Which one of the following best explains the conflict between the Banker and the Accountant ?

Agricultural markets are dominated by the private traders like moneylenders, rural political leaders, big merchants and rich farmers

Several poor people in the city work as domestic servants as well as work for the Corporation, keeping the city clean. Yet the slums in which they live are quite filthy. This is because these slums seldom have any water and sanitation facilities. The reason often given by the Municipal Corporation is that the land in which the poor have set up their homes does not belong to them and that slum-dwellers do not pay taxes. However people living in middle class neighbourhoods pay very little in taxes compared to the amount of money the Corporation spends on them in setting up parks, street lighting facilities, regular garbage collection etc. Also as you read in this chapter, the property taxes collected by the Municipality make up only 25-30 per cent of its money. Why do you think it is important that the Corporation should spend more money on slum localities? Why is it important that the Municipal Corporation provide the poor in the city with the same facilities that the rich get?

Join BYJU'S Learning Program