Economy of India under the British Raj

Economy Of India Under The British Raj

Economy of India under the British Raj

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Description:
The Economy of India under the British Raj describes the economy of India during the years of the British Raj from 1858 to 1947.

History

In the second half of the 19th century, both the direct administration of India by the British crown and the technological change ushered in by the industrial revolution, had the effect of closely intertwining the economies of India and Great Britain. In fact many of the major changes in transport and communications (that are typically associated with Crown Rule of India) had already begun before the Revolt of 1857. Since Dalhousie had embraced the technological change then rampant in Great Britain, India too saw rapid development of all those technologies. Railways, roads, canals, and bridges were rapidly built in India and telegraph links equally rapidly established in order that raw materials, such as cotton, from India's hinterland could be transported more efficiently to ports, such as Bombay, for subsequent export to England. However, unlike Britain itself, where the market risks for the infrastructure development were borne by private investors, in India, it was the taxpayers—primarily farmers and farm-labourers—who endured the risks, which, in the end, amounted to £50...
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