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What are the economic impacts of British economic policies during colonial rule?
1. Commercialisation of agriculture
2. Emergence of the managing agency system
3. Flourishing of urban handicraft production
Select the correct answer using the code given below.
  • a)
    1 and 2 only
  • b)
    3 only
  • c)
    1 and 3 only
  • d)
    1 only
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What are the economic impacts of British economic policies during colo...
  • A Between 1793 and 1813, these British manufacturers launched a campaign against the company, its trade monopoly, and the privileges it enjoyed. Ultimately, they succeeded in abolishing the East India Company‟s monopoly of Indian trade. With this India became an economic colony of Industrial England. The decline of Urban Handicrafts: The consequence of these changes in the composition of India‘s exports and imports, was a rapid decline in the demand for products of various urban handicrafts which at one time were so famous and in a flourishing condition.
  • Now, these urban handicrafts in India were unable to successfully face the challenge posed by free imports into India of cheap manufactured goods produced on a large scale in factories in England. This resulted in the decline of urban handicrafts in India. Commercialization of Agriculture: A large number of commercial crops such as tea, coffee, indigo, opium, cotton, jute, sugarcane, and oilseed were introduced. subsistence farming began gradually to give place to what is known as ' commercialization of agriculture '. Instead of growing all types of crops for home consumption as was the traditional practice, farmers began to produce one or two crops suitable to the region and which could be sold for the highest profit.
  • The emergence of the Managing Agency System: The most important among the institutions that came into existence during the second half of the 19th century were the European Managing Agency Houses. ̳Managing Agency House‘ was the peculiar product of the Indo-British relations during the 19th century. The Managing Agency Houses raised funds in England and India and took responsibility on behalf of the clients (who had retired from service in India after making a lot of money and generally resided in England) to run industries or trading establishments in India. Increasing Pressure on Agriculture: Gradually several handicrafts in urban areas declined or in some cases vanished for all practical purposes.
  • The unfortunate men who were traditionally engaged in those handicrafts took mostly to agriculture, claiming a share in the family land, to which they were entitled according to the Hindu and Muslim laws of succession and inheritance. This sudden swelling in the number of agriculturists resulted in sub-division and fragmentation of agricultural land.
  • Hence option (a) is the correct answer.
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What are the economic impacts of British economic policies during colonial rule?1. Commercialisation of agriculture2. Emergence of the managing agency system3. Flourishing of urban handicraft productionSelect the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)1 and 3 onlyd)1 onlyCorrect answer is option 'A'. Can you explain this answer?
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What are the economic impacts of British economic policies during colonial rule?1. Commercialisation of agriculture2. Emergence of the managing agency system3. Flourishing of urban handicraft productionSelect the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)1 and 3 onlyd)1 onlyCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What are the economic impacts of British economic policies during colonial rule?1. Commercialisation of agriculture2. Emergence of the managing agency system3. Flourishing of urban handicraft productionSelect the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)1 and 3 onlyd)1 onlyCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the economic impacts of British economic policies during colonial rule?1. Commercialisation of agriculture2. Emergence of the managing agency system3. Flourishing of urban handicraft productionSelect the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)1 and 3 onlyd)1 onlyCorrect answer is option 'A'. Can you explain this answer?.
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