A few statements with respect to the Bengal economy after the Company ...
The Company became the chief financial administrator of the territory under its control, and so the company had to think and plan the organisation of Bengal in a such a way that it could earn maximum profit out of the territory, profits that could be used to finance their businesses and wars. Thus the bengal economy thrived and progressed.
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A few statements with respect to the Bengal economy after the Company ...
Bengal Economy after the Company became the Diwan
Bengal was the wealthiest province in India during the 18th century. When the East India Company became the Diwan of Bengal, it had a significant impact on the economy of the region. Here are a few statements with respect to the Bengal economy after the Company had become the Diwan:
- The Bengal economy thrived and progressed: This statement is not applicable to the Bengal economy after the Company became the Diwan. While the Company did make significant profits from Bengal, the economic conditions of the region deteriorated. The Company's policies led to the impoverishment of the peasants and artisans of Bengal.
- Artisanal production and agricultural cultivation showed signs of collapse: This statement is true. The Company's policies led to the decline of artisanal production and agricultural cultivation. The Company forced artisans and peasants to sell their goods and produce to them at low prices, leading to a decline in their income.
- The artisans started deserting villages as they were forced to sell their goods to the Company at low prices: This statement is also true. The Company's policies led to the migration of artisans from villages to cities. The artisans were unable to earn a livelihood in the villages as they were forced to sell their goods to the Company at low prices.
- Peasants were unable to pay the dues that were being demanded from them: This statement is also true. The Company's policies led to the imposition of heavy taxes on the peasants. The peasants were unable to pay these taxes, leading to their impoverishment.
In conclusion, the Bengal economy after the Company became the Diwan was marked by the decline of artisanal production and agricultural cultivation, migration of artisans from villages to cities, and the impoverishment of the peasants.
A few statements with respect to the Bengal economy after the Company ...
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