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Consider the following statements:
1. The first railway line in British India was laid from Bombay to Thane in 1853.
2. The railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital.
Which of the statements given above is/are correct?
1. The first railway line in British India was laid from Bombay to Thane in 1853.
2. The railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:1. The first railway line in British...
The phase of economic exploitation of India between the closing decades of the nineteenth century till 1947 has been termed the Period of Finance Capital. During this phase, the Capital inflow became another instrument of Indian exploitation.
- There was no investment of British capital in India till 1833 i.e., throughout the period the Company traded. The flow of British capital into India became significant only after 1857 and penetrated into diverse economic fields in the latter half of the 19th century but tightened its tentacles over India in the 20th century in the form of finance capital. Thus, there was a capital flow though not significant prior to the revolt of 1857. For example, the first railway line was laid from Bombay to Thane in 1853 with the help of the British capital. Hence statement 1 is correct.
- British capital investment in India normally took two basic forms: o Loans were raised in England by the Secretary of State on behalf of the Indian Government and by semi-public organisations mostly for investment in railways, irrigation, developments of ports, and hydro-electric projects. o Foreign business investments in India.
- In 1849, the colonial state of India entered an agreement with the Great Indian Peninsular Railway Company and the East India Railway Company to construct the railway from Bombay to Thane and from Howrah to Raniganj coal fields. These experimental agreements were then extended to other companies to develop railways in other parts of the country. They were given a state guarantee of a minimum return of 5% on their paid-up capital. Hence statement 2 is correct.
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Consider the following statements:1. The first railway line in British...
The correct answer is option 'C' - Both 1 and 2.
Explanation:
1. The first railway line in British India was laid from Bombay to Thane in 1853:
The statement is correct. The first railway line in British India was indeed laid from Bombay (now Mumbai) to Thane in 1853. This marked the beginning of the railway network in India. The railway line covered a distance of 34 kilometers and was operated by the Great Indian Peninsula Railway (GIPR). The inaugural train on this line was flagged off on April 16, 1853, and it marked a significant milestone in India's transportation history.
2. The railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital:
The statement is also correct. The railways in India were primarily built using British capital. The British government and private investors played a crucial role in financing the construction of railways in India. To attract investment, the British government offered a guaranteed minimum return of 5% on the paid-up capital for the railway companies. This ensured that the investors would receive a fixed minimum return on their investment, regardless of the profitability of the railway projects.
The guarantee of a minimum return was an attractive proposition for the investors as it provided them with a level of assurance and reduced the risks associated with their investments. This policy helped in mobilizing the necessary funds for the construction of railways across India.
The development of railways in India had a profound impact on various aspects of the country's socio-economic landscape. It revolutionized transportation, facilitated the movement of goods and people, promoted trade and commerce, and contributed to the overall economic development of the country.
In conclusion, both statements are correct. The first railway line in British India was indeed laid from Bombay to Thane in 1853, and the railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital.
Explanation:
1. The first railway line in British India was laid from Bombay to Thane in 1853:
The statement is correct. The first railway line in British India was indeed laid from Bombay (now Mumbai) to Thane in 1853. This marked the beginning of the railway network in India. The railway line covered a distance of 34 kilometers and was operated by the Great Indian Peninsula Railway (GIPR). The inaugural train on this line was flagged off on April 16, 1853, and it marked a significant milestone in India's transportation history.
2. The railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital:
The statement is also correct. The railways in India were primarily built using British capital. The British government and private investors played a crucial role in financing the construction of railways in India. To attract investment, the British government offered a guaranteed minimum return of 5% on the paid-up capital for the railway companies. This ensured that the investors would receive a fixed minimum return on their investment, regardless of the profitability of the railway projects.
The guarantee of a minimum return was an attractive proposition for the investors as it provided them with a level of assurance and reduced the risks associated with their investments. This policy helped in mobilizing the necessary funds for the construction of railways across India.
The development of railways in India had a profound impact on various aspects of the country's socio-economic landscape. It revolutionized transportation, facilitated the movement of goods and people, promoted trade and commerce, and contributed to the overall economic development of the country.
In conclusion, both statements are correct. The first railway line in British India was indeed laid from Bombay to Thane in 1853, and the railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital.
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Consider the following statements:1. The first railway line in British India was laid from Bombay to Thane in 1853.2. The railways in India were built using British capital with a promise of a guaranteed minimum return of 5% on their paid-up capital.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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