Detailed Solution. The correct answer is Dadabhai Naoroji. Dadabhai Naoroji wrote the book ‘Drain of Wealth’. The two books which wrote by Dada Bhai Naoroji, explaining the drain of Indian’s wealth were Poverty and the unBritish Rule in India and Poverty of India.
Who wrote Indian drain of Wealth?
In 1867, Dadabhai Naoroji put forward the ‘drain of wealth’ theory in which he stated that the Britain was completely draining India. He mentioned this theory in his book Poverty and Un-British Rule in India. Further in his book , he stated the loss of 200-300 million pounds of revenue to Britain.
Who wrote the drain theory What did it explain?
Dadabhai Naoroji was among the key proponents of the ‘Drain Theory’, disseminating it in his 1901 book ‘Poverty and Un-British Rule in India’.
Who proposed the drain Wealth theory?
The Drain of Wealth theory, first propounded by Dadabhai Naoroji in 1867, was set in a much different perspective of economic colonisation of India to service the needs of Industrial revolution in Britain.
Who exposed the drain of Wealth theory and in which book?
D) Poverty and Un-British Rule in India. Hint: Dadabhai Naoroji, in 1867, put forward a theory which he called ‘drain of wealth’ in which he mentioned that Britain was draining India of its wealth. He mentions this theory in his book which he wrote to expose the exploitation from the British on India and its wealth.
It is symbolic that Adam Smith’s masterpiece of economic analysis, The Wealth of Nations, was first published in 1776, the same year as the Declaration of Independence.
Who wrote the book Poverty and Unbritish rule in India?
The transfer of wealth from India to England for which Indian got no proportionate economic return, is called the Drain of Wealth. Till the Battle of Plassey, the European traders used to bring gold into India to buy Indian cotton and silk.
How did Colonisation drain India of its wealth?
The British ruled India for 190 years and during that long period of colonisation drained India of most of its wealth. … Britain wreaked havoc by pursuing a policy so disastrous “that per capita foodgrains’ availability in India declined drastically from 197.3 kg per year in 1909-14 to 136.8 kg per year in 1946”.
What was the theory of drain of wealth Class 12?
Dadabhai Naroji advocated the theory of ‘Drain of Wealth’ in the 19th century. The colonial period was marked by the exploitation of Indian resources. The sole motive of Britain to conquer India was to own a perennial source of cheap raw materials to feed its own industrial base in Britain.
How was wealth drain from India to England?
So, the ‘Drain of wealth’ from India to England started after 1757 (Battle of Plassey), when the Company acquired political power and the servants of the Company a ‘privileged status’ and, therefore, acquired wealth through dastak, dastur, nazarana and private trade.
Who was the founder of East India Association?
Rast Goftar newspaper was edited by Dadabhai Naoroji. Dadabhai Naroji: He was also known as the “Grand Old Man of India” and ‘Father of Indian Nationalism’. He was the first Indian to be elected as a member of the British Parliament.
Is drain of wealth a book?
Dadabhai Naoroji wrote the book ‘Drain of Wealth’. The two books which wrote by Dada Bhai Naoroji, explaining the drain of Indian’s wealth were Poverty and the unBritish Rule in India and Poverty of India.
Who among the following first cited the drain of wealth in his book?
Explanation: Dadabhai Naoroji was the first cited the ‘Drain of Wealth’ in his book ‘Poverty and Un-British Rule in India’.
Who did not believe in drain of wealth theory?
Ram Manohar Lohia: 1. He believed the Satyagraha without constructive work was like a sentence without a verb. 2.