Q1. Discuss the British colonial intervention in India's economy.
- De-industrialization destroyed India's traditional handicraft and textile industries.
- Commercialization of agriculture forced shift to cash crops, causing food insecurity and indebtedness.
- Colonial land revenue systems (e.g., Permanent Settlement) impoverished peasants and created new exploitative classes.
- The 'Drain of Wealth' transferred India's resources to Britain without equivalent economic return.
Answer: The British colonial intervention fundamentally restructured India's economy, transforming it from a self-sufficient, agrarian-cum-manufacturing society into an exploited appendage of the British Empire. This process was driven by mercantilist principles, prioritizing British economic interests at the expense of Indian development, leading to widespread impoverishment and structural distortion. One of the most significant interventions was the systematic de-industrialization of India, particula...