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Which factor had become absolutely vital for the whole complex mechanism of the United Kingdom’s balance of payments by the end of the 19th century?
- a)Raw materials the U.K. got from India
- b)India’s export surplus
- c)The economic exploitation of India
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which factor had become absolutely vital for the whole complex mechani...
Importance of India's Export Surplus for UK's Balance of Payments
Introduction:
The United Kingdom's balance of payments is the record of all economic transactions between the UK and the rest of the world. By the end of the 19th century, the UK's economy was heavily dependent on trade, and it required a steady inflow of goods to maintain its balance of payments.
India's Export Surplus:
India was a British colony during the 19th century, and it was a significant source of raw materials for the UK's industries. However, India's importance for the UK's balance of payments was not only due to the raw materials it provided but also due to its export surplus.
An export surplus occurs when a country exports more goods than it imports. India had a substantial export surplus during the 19th century, which meant that it was sending more goods to the UK than it was receiving. This surplus was essential for the UK's balance of payments as it provided the UK with a steady inflow of goods.
Importance of India's Export Surplus:
The export surplus from India was crucial for the UK's balance of payments for several reasons:
1. It provided the UK with a steady inflow of goods, which helped to maintain the balance of payments.
2. The surplus allowed the UK to import goods from other countries, which it needed for its industries.
3. The surplus also helped to finance the UK's overseas investments, which were essential for its economic growth.
4. The surplus contributed to the growth of the UK's merchant marine, which was essential for its global trade.
Conclusion:
In conclusion, by the end of the 19th century, India's export surplus had become absolutely vital for the UK's balance of payments. The surplus provided the UK with a steady inflow of goods, which helped to maintain its balance of payments and support its economic growth.
Introduction:
The United Kingdom's balance of payments is the record of all economic transactions between the UK and the rest of the world. By the end of the 19th century, the UK's economy was heavily dependent on trade, and it required a steady inflow of goods to maintain its balance of payments.
India's Export Surplus:
India was a British colony during the 19th century, and it was a significant source of raw materials for the UK's industries. However, India's importance for the UK's balance of payments was not only due to the raw materials it provided but also due to its export surplus.
An export surplus occurs when a country exports more goods than it imports. India had a substantial export surplus during the 19th century, which meant that it was sending more goods to the UK than it was receiving. This surplus was essential for the UK's balance of payments as it provided the UK with a steady inflow of goods.
Importance of India's Export Surplus:
The export surplus from India was crucial for the UK's balance of payments for several reasons:
1. It provided the UK with a steady inflow of goods, which helped to maintain the balance of payments.
2. The surplus allowed the UK to import goods from other countries, which it needed for its industries.
3. The surplus also helped to finance the UK's overseas investments, which were essential for its economic growth.
4. The surplus contributed to the growth of the UK's merchant marine, which was essential for its global trade.
Conclusion:
In conclusion, by the end of the 19th century, India's export surplus had become absolutely vital for the UK's balance of payments. The surplus provided the UK with a steady inflow of goods, which helped to maintain its balance of payments and support its economic growth.
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Which factor had become absolutely vital for the whole complex mechani...
In my opinion the raw material was also a vital resource that drew Britain's intereste in colonizing India we shall consider it too.
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Which factor had become absolutely vital for the whole complex mechanism of the United Kingdoms balance of payments by the end of the 19th century?a)Raw materials the U.K. got from Indiab)Indias export surplusc)The economic exploitation of Indiad)None of theseCorrect answer is option 'B'. Can you explain this answer?
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Which factor had become absolutely vital for the whole complex mechanism of the United Kingdoms balance of payments by the end of the 19th century?a)Raw materials the U.K. got from Indiab)Indias export surplusc)The economic exploitation of Indiad)None of theseCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which factor had become absolutely vital for the whole complex mechanism of the United Kingdoms balance of payments by the end of the 19th century?a)Raw materials the U.K. got from Indiab)Indias export surplusc)The economic exploitation of Indiad)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which factor had become absolutely vital for the whole complex mechanism of the United Kingdoms balance of payments by the end of the 19th century?a)Raw materials the U.K. got from Indiab)Indias export surplusc)The economic exploitation of Indiad)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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