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Economic Drain (Concept (Conceptual Divisions (Internal Drain: Process of…
Economic Drain
Concept
Mechanism by which economic surplus was extracted out of the poor colonial economy by internal drain and then by excess of imports over exports.
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Conceptual Divisions
Internal Drain: Process of transfer of wealth without nay equivalent returns from villages to city, from backward to rich regions, from the poor to the rich through a medium of taxation, interest payments, amortization of profits etc.
External Drain : Drain because of unrequited exports and non commercial exports which brought no equivalent returns.
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Definition
Strains and stresses of the Indians after the mutiny of 1857. Mainly told by distinguished leaders like Dadabhai Naoroji, R.C Dutt etc