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Friday, November 13, 2009
IAS Papers : How to do Proper Study?
IAS Papers : Time Management and IAS Preparation Tips
1. While preparing for a set of subjects in IAS syllabus, ensure that you would be appearing for a multiple choice question papers, where subjects such as iaspapers.info/category/history" title='Read more about History'>History, maths and geography may prove to be highly scoring. Choose subjects whose preparation material like IAS Exam Material books, IAS Comprehension Test, reading material and guidance books are easily available in the market.
2. Your General Knowledge will definitely pay in your IAS prelims examination which can be improved through keeping a tab on day to day happenings by reading newspaper, watching television news, etc.
3. For all those who are lucky enough to clear IAS mains and reach interview stage, then bookish knowledge itself won’t do. Mind alertness counts when somebody asks tricky questions on “how many steps you walked to reach the office?”
4. Improving the personality is quite important as this will definitely be one of the criteria for selection. Physical and mental wellbeing is quite important for IPS.
5. Try to enhance your communication skills as the civil servants must be proficient in at least one foreign language.
Tips on iaspapers.info/category/ias-preparation" title='Read more about IAS Preparation'>IAS Preparation
1. Be very particular about the subject you choose for prelims, as you will be appearing for an objective type of paper. iaspapers.info/category/history" title='Read more about History'>History, maths, geography may prove to be very scoring. Choose subjects which have availability of books, reading material and guidance. In recent years engineering subjects like civil and electrical can be chosen, giving BEs and IITians an edge (yes! even here they are giving the BAs and BScs a tough fight!)
2. G.K. will definitely pay in your prelims. Reading newspapers, watching TV news and of course quiz shows like KBC is a must.
3. If you have been lucky enough to reach the interview stage book knowledge may not be the only thing you need. Your mental alertness will count as they ask you questions like “How many steps did you walk up to reach here?†or “ What is the colour of the wall behind you ?†– So be prepared.
4. Enhance your personality because it will definitely be one of the criteria for selection. For IPS physical wellbeing is of great importance, you should be medically fit.
5. Improve your communication skills. IFS aspirants must be proficient in at least one foreign language. So go ahead, have your say in this political mess of our country and try to make it a better place.
IAS Papers : Preparation Tips For IAS Exam
One should keep in mind various points as the paper IAS objective type in the prelims round. One should see the thoroughness, the level, availability of books, type of subject etc before choosing one.
A good amount of general knowledge is significant, hence one needs to be updated with the current events and news by thoroughly reading magazines, newspapers, television, quiz shows etc. to be aware of it, as GK counts majorly in the exam scores and ranking of the candidate.
Enhancement of one’s personality, both physical as well as mental, is very necessary. As IAS is not a cake walk hence it is important to keep themselves fit and fine.
Then, there are other points to polish like one’s reading skills, level on concentration, speed of writing, speaking skills, management’s skills etc which needs to be taken care of to clear an IAS exam.
Preparation Tips For IAS Exam:
* One needs to put in a lot of time dedication plus concentrated devotion to prepare thoroughly for IAS exam
* One should ideally go for preparing in the reverse order, and tune up his time-management skills and rational thinking
* Writing skills should be excellent, as it being a paper which includes essay and .info/category/english" a >English<>writing exams. One should have good and speedy writing skills as well as good expression of thoughts. One should practice by reading a lot and writing lot of essays
* Thorough study of all the subjects and those chosen by the candidate for his/her prelims, checking the availability of books and going through the best author, being update on the Latest happenings all over the globe and good knowledge of GK are again very essential
Tuesday, August 25, 2009
INTRODUCTION
Battle of Plassey
The British Company had obtained valuable privileges in 1717 under a royal 'farman' of the Mughal emperor, which had granted the company the freedom to export and import their goods in Bengal without paying taxes, and the right to issue 'dastaks' for the movement of such goods. The company's servants were also permitted to trade but were not covered by this farrnan. All the Nawabs of: Bengal from Murshid Quli Khan to Alivardi Khan, had objected to the English misinterpretation of the farman of 1717. But matters came to a head in 1756 when Siraj-ud-daula succeeded to the throne.The spark was provided by the fortification of Calcutta by the British without the prior permission of the Nawab and their refusal to demolish the fortification when ordered by the Nawab. Siraj was willing to let the Europeans remain as merchants and not as masters. He ordered both the English and the French to demolish their fortifications at Calcutta and Chandranagore and to desist from fighting each other. While the French obeyed his order, the English refused to do so. The English Company was now determined to remain in Bengal even against the wishes of the Nawab and to trade on its own terms. Siraj seized the English factory at Kasimbazaar, marched on to Calcutta and occupied Fort Williams in 1756. After receiving aid from Madras, the British, under Lord Clive reconquered Calcutta. Both sides met for battle in the field of Plassey on 23rd June, 1757. But it was a battle only in name, for the major part of the Nawab's army (led by the traitors Mir Jafar and Rai Durlabh) remained a puppet in British hands. The East India Company was granted undisputed right to trade free of tax in Bengal Bihar and Orissa, received the zarnindari of 24 paraganas near Calcutta and a sum of Rs. 17.7 millions as compensation for the attack on Calcutta. The Company opened its first mint in Calcutta in 1757.Yet the Battle of Plassey was not the final rou d of the struggle for the complete mastery over Bengal. There was to be one more battle, the Battle of Buxar fought in 1764.
Battle of BuxarMir
Jafar soon realized that it was impossible to meet the full demands of the company and its officials who began to criticize the Nawab for his inability to fulfill their expectations. Consequently, in 1760, they forced him to abdicate in favour of his son-in-law, Mir Qualm, who rewarded British by granting them the zamindari of the districts of Burdwan, Midnapore and Chittagong. Mir Qasim, however, belied the English hopes and soon emerged as a threat to their very position and plans in Bengal. The primary cause of the Battle of Buxar war therefore, the conflict between the English and the Nawab for the sovereign power of Bengal. The misuse of the farman of 1717 and the dastaks by the British and the consequent abolition of all duties on internal trade by the Nawab was a contributory factor. Mir Qasim took the drastic step of abolishing all duties on internal trade, thus giving his own subjects a concession that the English had seized by force. But the alien merchants were no longer in a mood to tolerate equally between themselves and Indians. Mir Qasim was defeated in a series of battles in 1763 and flew to Avadh, where he formed an alliance with Shuja-ud-daula, Nawab of Avadh, and Shah Alam II, the fugitive Mughal emperor. The forces of the three allies clashed with the Company's army in October 1764 and were thoroughly routed.The Battle of Buxar was one of the most decisive battles in Indian history, for it demonstrated the superiority of English arms over the combined forces of two of the major Indian powers, Bengal and Avadh. The battle firmly established the British as masters of Bengal, Bihar and Orissa. From Shah Alam II, who was still the titular head of the Mughal Empire, the Company secured the Diwani (the right to collect revenue) of Bengal, Bihar and Orissa. Thus, its control over Bengal was legalized. On Mir Jafar’s death in 1765, they put his second son, Nizam-ud-daulah, on the throne and extracted a treaty. Now, the Nawab was required to disband most of his army and to administer Bengal through a Deputy Subedhar who was to be nominated by the company and who could not be dismissed without its approval. The company thus gained some control overr the administration (Nizamat) of Bengal.The Nawab of Avadh was made to pay a war indemnity of five million rupees to the Company. Moreover, the two signed an alliance by which the Company promised to support the Nawab against any outside attack provided he paid for the services of the troops sent to his aid. This alliance made the Nawab a dependent of the Company. The British had decided to consolidate their acquisition of Bengal and to use Avadh as a buffer state between their possession and the Marathas.
Conquest of Maharashtra:
Peshwa Madhava Rao, who succeced his father Peshwa Balaji Rao in 1761 and who ranks among the great Peshwas, maintained unity among the Maratha chiefs and nobles and very soon recovered the power and prestige of the Marathas which they lost in the third Battle of Panipat. He came into contact with the English and was conscious of their military efficiency, but he did not attach much value to them and regarded them as an insignificant factor in the Indian politics. The British became conscious of the Marathas in the fulfillment of their ambition of building an empire in India and, therefore, were keen to weaken their power at the earliest opportunity.They got their opportunity very soon after the death and Peshwa Madhava Rao in 1772. Their attempt to repeat the exploits of their countrymen in Madras and Bengal involved them in a long war with the Marathas from 1775 to 1782, known as the First Anglo-Maratha War.
Second Anglo-Maratha War
After the creation of the Madras Presidency in 1801, the only major Indian power left outside the sphere of British control were the Marathas, whose internal affairs further deteriorated within a span of 20 years after the first Anglo-Maratha war. The internal squabbles of the Marathas led to a new round of hostilities between the English and the Marathas. This resulted in the Second Anglo-Maratha War (1803-05). Wellesley's aggressive policy of Interference in the infernal affairs of the Marathas was an important factor.Wellesley, who became the Governor-General in 1798, felt it imperative to bring as many Indian States as possible under British control. One of the important methods which the used to achieve his political aims was the Subsidiary Alliance. Under this system: * the ruler of the allying Indian State was compelled to accept the permanent stationing of a British force within his territory and also to pay a subsidy for its maintenance; * a British Resident was posted at the court; * Indian ruler could not employ any European in his service without the approval of the British; * he could not negotiate with any other Indian ruler without consulting the Governor-General; * the British undertook to defend the ruler from his enemies; and * also promised non-interference in internal affairs of the allied state.Among the last capable Maratha chiefs were Mahadji Sindhia, Ahilya Bai Holkar, Tukoji Holkar and Peshwa Madhava Rao II who died in 1794, 1795, 1797 and 1796 respectively. Nana Phadnis, the chief minister to the Peshwa, served the Maratha state zealously after the murder of Peshwa Narayan Rao, but later his ambition to keep the power of the state to himself harmed the interest of the Marathas.
Third Anglo Maratha War
The Second Anglo-Maratha War had no doubt shattered the power of the Maratha chiefs but not their spirit. The English had to fight another war, known as the Third Anglo Maratha war (1817-1818). However, once again the Marathas failed to evolve a concerted and well-thought out plan of action. The Governor-General, Lord Hastings, struck back with characteristic vigor. He compelled Scindhia to accept British suzerainty, and defeated the armies of the Peshwa, Bhonsle and Holkar.The consequences of this war sealed the fate of the Marathas once for all. The Peshwa was dethroned and pensioned off at Bithur near Kanpur. His territories were annexed and the en- large Presidency of Bombay was brought into existence. How- ever, in order to satisfy Maratha pride the small kingdom of Satara was created out of the Peshwa's lands and given to the descendant of Chatrapatti Shivaji who ruled it as a complete dependent of the British.
Conquest of Sindh
The conquest and annexation of Sindh by the British was partly due to the commercial advantages of River lndus. It was also caused by the growing Anglo-Russian rivalry in Europe and Asia and the consequent British fears that Russia might attack India through Afghanistan or Persia. Sindh was opened to British trade by a treaty signed in 1832 between the Amirs of Sindh and the British. Soon after, the chiefs of Sindh, known as Amirs, were made to sign Subsidiary treaties in 1839. By these trades, Sindh virtually passed into the handy of the English. The Amirs were left with no independent power and could no longer work in cooperation with each others. The Amirs were not recognised by the English. Sindh was finally, annexed in 1843 after a brief campaign by Sir Charles Napier. The annexation of Sindh was purely an out come of British imperialism and was criticised by one and all. Charles Napier himself wrote: ''We have no right to seize Sindh. Yet we shall do so, and a very advantageous, useful, human piece of rascality it will be''. Even the Court of Driectors described it as unjust and impolitic and inconsistent with the true interests and honour of the Indian government. At one point of time, they even threatened Ellenbrough, the then Governor-General to call him back from India.
Policy of Ring-Fence (1757-1813)
During this period, the British, as Lee-Warner says, 'endeavored as far as possible to live within a Ring Fence and beyond that they avoided intercourse with the chiefs as the English Company was not yet strong enough to interfere in the internal affairs of the Indian states.Warren Hastings, confronted with the task of safeguarding British territories against the encroachments of the Maratha and the militant rulers of Mysore, generally followed the policy of a Ring-Fence. The Pitt's India Act of 1784 even laid down that the Home Government should not approve of the intervention of her officers in India in the internal affairs of the Indian States.After the battle of Buxar, Avadh lay at the mercy of the British but they did not annex it. After the Rohilla war; Warren Hastings conferred the conquered territories on the Nawab of Avadh in- stead of retaining them; the First Ango-Marathaa war ended in the restoration of the status quo by the Treaty of Salbai and the four Mysore wars benefited the allies of the British (Marathas and Nizam) more than the British themselves at least in the short term.Yet it cannot be denied that during this period the Company did intervene in the affairs of the Indian states on a number of occasions. Warren Hastings, for instance fought the First Martha War (1775-1782) and the Second Mysore War (1780- 1784) without any justifiable reason. Similarly, Lord Cornwallis ' fought the Third Mysore War (1790-1792) and annexed half of its territory. Lord Wellesley fought the Fourth Mysore War (1798- 1799) and the Second Maratha War, and also compelled the rulers of Hyderabd and Avadh to sign the Subsidiary treaties with the Company. Lord Minto not only concluded the Treaty of Amritsar with Ranjit Singh but also granted protection of the Cis-Sutlej states whose very existence was being endangered by Ranjit Singh.
Policy of Subordinate Isolation (1813-58):
During this period of 45 years, the British East India Company made all States subordinate to itself by compelling their rulers to sign Subsidiary treaties with it. The Indian States without exception were prevailed upon to accept the Company as the paramount power in India. They were required to give either money or territory, so that the Company could maintain a Subsidiary force either in the concerned State or out side it for its protection. The concerned State could no longer appoint non- English Europeans in its service. It could not conduct any foreign relations except through the British government. In all, its dispute with other States, it had to accept British arbitration. In turn, the Company promised the territorial integrity of the State.In practice however all the Indian States entering into subsidiary alliance, and being dependent on the Company for self- protection, began to suffer from all the evils of 'dual government' like those which had destroyed Bengal, between 1765 and 1722. Regarding pitfalls of the Subsidiary system, Sir Thomas Munro rightly remarked that, it is the natural tendency to render the government of every country in which it exists weak and oppressive, to extinguish all honourable spirits among the higher grades of society, to degrade and impoverish the whole people.
Policy of Subordinate Union (1858-1947) The Revolt of 1857 made the British reverse their policy towards the princely States. Prior to the Revolt, the British had made use of every opportunity to annex the Indian States, but after it they abandoned the policy of annexation in favour of another policy known as the policy of 'subordinate Union'. During the Revolt, most of the native ruler had not only remained loyal to the British but had actively helped the latter in suppressing it. Their loyalty was now rewarded with the announcement that their right to adopt heirs would be respected and the integrity (if their territories were guaranteed against future annexation.As pointed out by Lord Canning in 1860 - ''It was long ago said by Sir John Malcolm.. that if we could keep up a number of Native States without political power, but as royal instruments, we should exist in India as long as our naval supremacy was maintained. Of the substantial truth of this opinion I have no doubt; and the recent events have made it more deserving of our attention than ever''.
British Colonialism in India
The British colonial rule in India is generally divided into three stages: First stage (1757-1813) represents the mercantile phase. Second stage (1813-1860) represents the free trade phase and Third stage (1860 onwards) represents the finance capital phase.
Mercantilism:
During the mercantile phase the aim of all activity was to accumulate wealth. In order to pursue a favourable trade, the British company started aggressive policies in India. The government passed the Regulating Act and the Pitt's Indian Act to gain more and the direct control over the affairs of the company. The company officials transferred their fortunes acquired in Indian to England. The financial bleeding of India started with the British gaining hegemony over Indian territories. New revenue settlements were imposed upon the agrarian structure. The fought several wars, crushed many princely States and brought them under the colonial authority.Soon the mercantile phase came to an end.
Free Trade:
By the dawn of the 19th century, the British became an industrial power following Industrial Revolution in England. lt was in need of raw material to feed its industries.The emerging capitalist class found the Company a stumbling block for its market. The Company's monopoly in India was bitterly attacked by the British industrial community. Thus, the need for raw material and markets for the British manufactured goods resulted in the formulation of free trade policy towards India. The special feature of this policy was that it was a one way traffic wherein British goods entered India virtually free while Indian products entering Britain faced high tariffs. The protective policy towards British trade was thoroughly guarded, leaving India-made products to face stiff competition.
Permanent Settlement:
Anxious to secure a regular payment of land revenue, the British decided to 'settle' the payment of the government demand with certain intermediaries who would hold themselves responsible for payment of the revenue. After prolonged deliberations 'permanent settlement' was introduced by Lord Cornwallis in Bengal and Bihar in 1793. Under this system, zamindars were given full rights of ownership over their estates, who were now only revenue farmers. Lord Minto and Lord Wellesley, the successors of Lord Cornwallis, were great believers in large estates property righted fixed revenues and fixed taxation; consequently they tried to introduce permanent settlement in the newly acquired regions of northern India. This happened in Orissa as well as certain parts of Madras Presidency in the first two decades of the 19th century.Purpose and Impact: The important purpose of this policy was to create a new clash of landlords based on the English model as the social buttress of English rule. It was felt that with the small number of English, holding down a vast population, it was absolutely essential to establish a social basis for their power through the creation of a new class whose interests, through receiving a subsidiary share in the spoils (One-eleventh) would be bound up with the maintenance of English rule. This contention was proved several times and the best example would be the 1857 revolt during which the landed aristocracy stood finely on the side of the British, which made Lord Canning to call zamindars as 'breakwaters' in the storm. Its impact on peasant cultivator was disastrous. Zamindars instead of living on their estates preferred to live in luxury in cities and became sort of distant suction pumps; literally sucking the blood of the peasants. As the income from land decreased due to high rents and taxes and increase in population, the gap between the zaminder and tiller began to grow wide. Thus, the greatest amount of agrarian unrest can be found in zaminder areas.
Other Systems:
ln the united provinces of Agra and Awadh and also in Punjab, a new method of land revenue system was introduced know as 'Mahalwari' or joint village system. Under this system the assessment was made on the principle of ownership farming. But all the owners of land in the 'Mahal' or village were made jointly responsible for payment of land revenue. The head of each village had a special responsibility for collecting land revenue. Under the Mahalwari system, provision was made for periodical revision of land revenue.ln the Central provinces, where the British took over the administration from the rulers, the land revenue system known as 'Malguzari System' was introduced. Under this system, the 'Malguzars', who were originally village officers, were given proprietary rights on land. Here too the government retained the right of making periodical revision of land revenue.All these systems departed fundamentally from the traditional land systems of the country. All over the country, land was now made saleable, mortgage-able and alienable. In fact, the entire structure of rural society began to break up.
Judicial Policy
In the early days of its rule, the Company was satisfied with the provision of courts of the trial of cases of the Europeans, and early in the (18th century, Mayors' courts were established in the three presidency towns, with the right of appeal to the local government and in certain cases. In the King-in-Council, at the time of the transfer of Diwani to the Company, Clive set up what was known as the 'Dual system'. Under Warren Hastings, Collector was placed in charge of the local civil and criminal courts. Above these courts were the Sadr Diwani Adalat (for civil cases) and Sadr Nizamat Adalat (for criminal cases). The Regulating Act of 1773 brought into existence the Supreme Court of Calcutta which administered English law to the confusion of Indian litigants. Under Cornwallis, significant changes were made. These were the separation of judicial and executive rowers in the district courts and the introduction of the Rule of Law. It was in the mid 19th century that the penal and criminal codes were completed largely due to the efforts Lord Macaulay.The Indian High Courts Act was passed in 1861. In 1865, High Courts were established at Calcutta, Madras and Bombay and, a short time later, at Allahabad to replace the Sadr Courts of Diwani and Nizamat.However, the development of judiciary was in line with other changes in the colonial administration. When Lord Ripon tried to remedy the evil by introducing the albert Bill, there was a lot of opposition from the European community and the same could not be passed in the original form. 'The judiciary was used only to legitimise the exploitation of the colonial rulers and their viz. zamindars, moneylenders and civil servants.
Social Policy
After establishing complete control over Indian territories and taking firm steps to encourage trade, Britain found it nec essary to evolve a social policy to administer the country in a way favourable both for the country and the British Government.In this direction, it took several steps to ameliorate the social life of the people. The important among them are the abolition of 'Sati' (1829), prohibition of infanticide (1795 and 1802), enabling widows to get married by law (the Hindu Widow's Remarriage Act of 1856), revival of the ancient heritage of India and even encouraging the expression of the people's opinion.These reformatory activities were, however, carried as long as they did not come into conflict with commercial interests and profit motives, reform movement following the 1857 revolt. In fact, it started making alliance with the conservative classes thereafter. Thus, its progressive outlook and activities were occasioned because of the fact that the colonial power from the 19th century onwards propagated that it took on itself the responsibilities of bringing up the 'White man's burden'. But it can be said that whatever benefits that Indian society got from the British was because of the economic exploitation of the day associated with some fair principles in their home country.
British Economic Policies and Their Impact
Before the advent of the British in India, especially during the 17th and 18th centuries, India was the industrial workshop of the world in a pre-capitalist sense. It was endowed with fertile soil and a prosperous agriculture; a good geographical location and climate suitable for production, possessing mineral re- sources. Centers in Western India, Bengal and the Coromandal Coast had built up extensive international trading links, financed manufacturing in the interior, engaged in ship building and even developed sophisticated forms of banking and exchange.Such a prosperous India turned into a dumping house of finished goods from Britain and exporter of raw materials in the wake of crude and cruel imperialistic policies of British colonial rule.
A Bottleneck: The economic policies of the colonial power proved to be the chief bottleneck in the development of the Indian economy. The British rule resulted in the drastic changes in the system of land tenure and land ownership. In the commercialization of agriculture, in rural indebtedness, in growth of modern industry (though lopsided) and rise of capitalist class, the land revenue system introduced by the British caused a radical change in property relations in land. A new proprietary class, consisting mainly of businessmen, came on the scene.They looked up on zamindari as an income yielding asset. The main motive of the British behind this policy was to stabilise and increase its source of revenue and to create a loyal class of landlords in its colony to assist in its shameless and ruthless plunder of Indian economy. The impact was disastrous. The cultivators, unable to withstand the burden of rent and taxes soon turned into tenants-at-will.
Commercialisation:
To feed its industries, the British trans- formed the self-sufficient Indian agriculture into a commercial enterprise. This transformation, though ending isolation of the village social and economic life, proved disastrous as it resulted in the decrease of food grain production, unprecedented rents and compound interest rates coupled with natural calamites. It forced the peasant into the hands of money lenders. The legal protect-ion under British law gave a further boost to the usurer to squeeze the cultivator of his meagre income. Neither the government's credit policy nor the debt legislations helped the indebted peasant to escape form the clutches of the money- lender. The new land relations, rural indebtedness and the destruction of traditional handicraft and cottage industry by the British to save its own industry resulted in the growth of agriculture labour as there was no other means to survive. This in turn resulted in over-pressure on agriculture and during famines, this trend played have with millions of lives.
Drain of Wealth
Agrarian Changes:
In pre-colonial India, the zamindars were only tax farmers and could not extract the rent as matter of course through the ordinary legal channels. The peasant had hereditary and customary rights over land cultivation. However, these relation- ships changed radically with the advent of the British. The British decision to recognise the concept of individual ownership aimed at creating an enterprising and loyal class of landlords.Whether in the case of Permanent Settlement of Bengal in 1793, or the Ryotwari system that came into force in Madras, Bombay and the Punjab some decades later, the underlying principle was the idea of individual ownership. Land became the property of the individual. The feudal structure turned into semi feudal.This policy paid rich dividends to the British in form of increased and stabilised revenues and a loyal landed aristocracy, but posed sharply the landlord-peasant problem. While the Ryohvari peasant faced exorbitant rates of revenue, the zamindari peasant suffered unprecedented oppression. Between 1800 and 1810, rents nearly doubled. Raja Ram Mohan Roy, himself a Bengal zaminder, admitted that the conditions of cultivators had not improved although the income of the proprietors had increased. The government conferred on the zamindras powers to confiscate the property and arrest the cultivator, leaving him no other means of redress against the illegal or unjust confiscation or arrest. The civil courts could do little because the settlement was made with no previous survey, on record of rights and without even a define method of assessment. The zamindars' domination became an accepted fact to such an extent that the tenants who, in theory had substantial occupancy rights became tenants at will.The burden of revenue led them into the firm grip of the moneylender and also towards cash crop cultivation which had disastrous consequences. The pauperisation and appalling condition on the peasantry were echoed in Lord Cornwallis statement, when he said: 'I may safely assert that one third of the Company's territory in Hindustan is now a jungle inhabited only by wild beasts, which once was bustling with cultivators'.
Exchange System
The long lasting result of colonial rule was the structural change brought about in the exchanges system. The deep-going structural changes in the main sectors of India's economy during the period of domination of industrial capital was contemplated by new features in the exchange system. The abolition of the East India Company's trade monopoly and the increase in imports of British goods compelled the colonialist to pay serious attention to the monetary and credit system in India.In the pre-colonial period, as well as in the times of the EIC, the country had no unified monetary system. A large number of silver and gold coins of various values were in circulation. Even the value of the silver rupee was not the same in different parts of the country. At the time of trade - in other words, ponder- this monetary chaos was used to get more goods out of the country to enrich the merchants, traders, and black marketers. The industrialisation however needed a single united monetary system. The exchange rate was all the more important for its promotion since the rupees earned from the sale of goods in India had to be changed into pound sterling.
New standards:
By the two Acts of 1818 and 1835, India was put on the silver standard. The silver rupee of a set weight and silver con- tent was proclaimed the basis monetary unit for the whole country. This tended to stabilise the fiscal revenue of the colonial administration and made it possible to introduce the cash system. However, the introduction of the cash taxes, especially in agriculture, undermined the peasants' natural economy and destroyed the traditional economic ties in the communities, which were founded chiefly on barter. It also helped to create a market , for British manufactured goods and forced the peasant to produce commodities that were in demand on the market and that could be sold for cash.
British Industrial Policy
Labour:
Labour:
Foreign Trade:
India's foreign trade which was not beneficial to the masses as well as to the aspirant capitalist class made India to be a mere exporter of raw materials and market for based on Laipsez-faire (e.g. tariff policy) as well as state intervention (e.g. labour legislation) had an adverse impact on the rise of a stable and strong industrial base. Though, during the first world war, government due to military, strategic and competitive economic reasons proclaimed that industrialisation was its official aim in the economic field, it did not do much to its progress. The industrial sector was starved of funds and a new principle was introduced - the principle of increased imperial preference of favoured rates for the entry of British manufactured goods. The tariff policy which was originally proclaimed to assist Indian industry was soon exploited for encouraging British Industry, costing heavily to the native industry. The imperial policy constantly and vigorously maintained and protected the obsolete economic structure of India in order to strain the emerging productive forces.
TAJ MAHAL
