THE name of Dadabhai Naoroji has been associated in the minds of. Indians students of economics with the controversial ‘Drain Theory’: Dadabhai spoke and . Dadabhai Naoroji and the Drain Theory [B.N. Ganguli] on *FREE* shipping on qualifying offers. The Drain of Wealth theory was systemically initiated by Dadabhai Naoroji in and further analysed and developed by R.P. Dutt, M.G Ranade etc. The ” drain.
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Dadabhai Naoroji and his Drain of Wealth Theory | My India
Dadabhai Naoroji’s work focused on the drain of wealth from India to England during colonial rule of British in India. Firstly, India is governed by a foreign government. Priest-hood, first for power and afterwards from ignorance, completed the mischief, as has happened in all other countries.
The Journal of Asian Studies. Gandhi Rao Pawar S. Instead of paying off foreign investment which other countries did, India was paying for services rendered despite the operation of the railway being already profitable for Britain.
Life Sketch and Contribution to Indian Economy. The essence of the drain theory is that the unilateral transfers that India was compelled to make to Britain systematically stripped the country of resources and thus perpetuated poverty. Leave a Reply Click here to cancel reply. He died in Bombay on 30 Juneat the age of Further development was checked by the frequent invasions of India by, and the subsequent continuous rule of, foreigners of entirely different character and genius, who, not having any sympathy with the indigenous literature — on the contrary, having much fanatical antipathy to the religion of the Hindus — prevented its further growth.
A prominent residential colony for central government servants in the south of Delhi is also named Naoroji Nagar.
Furthermore, the East India Company was purchasing Indian goods with money drained from India to export to Britain, which was a way that the opening up of free trade allowed India to be exploited.
This commission reviewed financial burdens on India and in some cases came to the conclusion that those burdens were misplaced. Bal Gangadhar Tilak admired him; he said:. In his writings, he considered that the foreign intervention into India was clearly not favourable for the country.
The thousands [of Indians] that are being sent out by the universities every year find themselves in a most anomalous position. Vijayaraghavachariar Khan Das M. Indian labour would be more likely to spend their income within India preventing one aspect of the drain. Later, he became professor of Gujarati at University College London.
India was paying tribute for something that was not bringing profit to the country directly. Secondly, India does not attract immigrants which bring labour and capital for economic growth. In this above quotation he explains his theory in which the British used India as a drain of wealth. Wikipedia articles incorporating a citation from the Encyclopaedia Britannica with Wikisource reference CS1 maint: Masani, Dadabhai Naoroji Through his work with economics, Naoroji sought to prove that Britannia was draining money out of India.
The difficulties thrown in the way of according to the natives such reasonable share and voice in the administration of the country ad they are able to take, are creating some uneasiness and distrust.
This body naturally increases in influence His granddaughters Perin and Khrushedben were also involved in the freedom struggle.
Wikiquote has quotations related to: These, together with the payment in sterling by the government of India of the pensions and allowances of British officials, constituted a heavy burden on the resources of India. Being an Athornan ordained priestNaoroji founded the Rahnumae Mazdayasne Sabha Guides on the Mazdayasne Path on 1 August to restore the Zoroastrian religion to its original purity and simplicity.
Dadabhai Naoroji and His Drain of Wealth Theory
He also brought up the way that Britain objected to the drain of wealth to the papacy during the 16th century. By giving these institutions to India it would allow India to govern itself and as a result the revenue would stay in India.
Naoroji described this as vampirism, with money being a metaphor for tneory, which humanised India and attempted to show Britain’s actions as monstrous in an attempt to garner sympathy for the nationalist movement. The third item was the remittances made in sterling of interest on loans for construction theort maintenance of public works such as railways, irrigation works, etc.
Dadabhai Naoroji 4 September — 30 Juneknown as the Grand Old Man of Indiawas a Parsi intellectual, educator, cotton trader, and an early Indian political and social leader. President of the Indian National Congress Hinnells 28 April Naoroji published Poverty and un-British Rule in India in Marginal contributions to the theory were also made by R.
Within three years, he had resigned on ethical grounds.