History · Rise of Indian Nationalism
UGC NET December 2020 History (Shift-II)
Passage
The Indian National Movement was most firmly and deeply rooted in an understanding of the nature and character of colonial economic domination and exploitation. Three names stand out who carried out the economic analysis of British rule during 1870-1905, namely Dadabhai Naoroji, the Grand Old Man of India, Justice M.G. Ranade, and Romesh Chandra Dutt, a retired civil servant. These three leaders, along with G.V. Joshi, G.K. Gokhale, G. Subramaniya Iyer, Prithwis Chandra Ray and a host of others, raised basic questions regarding the nature and purpose of British rule. For them, the essence of British imperialism lay in the subordination of the Indian economy to the British economy. They were able to see that colonialism no longer functioned through crude tools of plunder and tribute and mercantilism, but operated through the disguised and complex mechanism of free trade and foreign capital investment, by transforming India into a supplier of foodstuffs and raw material to the metropolis and making India a market for the metropolitan manufacturers. They argued that instead of encouraging Indian capital, foreign capital replaced and suppressed it, which led to the drain of capital from India and further strengthened the British hold over the Indian economy.
After years of hesitation, in which year was the drain theory officially adopted by the Indian National Congress, proclaiming that the famines and the great poverty of India were brought about by the drain of wealth?
A1885
B1896 ✓ Correct
C1905
D1907
Correct answer: (B) 1896 — The drain theory was adopted in 1896, so the answer is 1896.
Explanation
★The drain theory was adopted in 1896, so the answer is 1896.
★In 1896, at its annual session held at Calcutta, the Indian National Congress adopted the drain theory.
★It proclaimed that the famines and great poverty of India were brought about by the drain of wealth.
★The drain theory was first developed by Dadabhai Naoroji.
★It became central to the economic critique of colonial rule.
★So the drain theory was officially adopted by the Congress in 1896.
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