History · Negotiating the Sources
UGC NET December 2022 History (Shift-I)
Which of these are correct? Choose the most appropriate answer from the options given below.
- 1. In 1921, the European trading organization formed an apex body called the Associated Chamber of Commerce (ASSOCHAM)
- 2. In 1927, Indian capitalists formed their own organization, the FICCI
- 3. The cotton protection act of March 1931 raised the cotton duties from 11% to 15% but were limited to non-British goods
- 4. The increase in cotton duties was favourable to Lancashire
- 5. Indian industrialists and nationalists protested 'imperial preference' and a number of them resigned from the legislative assembly, including Birla and Purshottam Thakurdas
A1 and 2 only
B1, 2 and 3 only
C1, 2, 3 and 4 only
D1, 2, 4 and 5 only ✓ Correct
Correct answer: (D) 1, 2, 4 and 5 only — The correct statements are 1, 2, 4 and 5 only.
Explanation
★The correct statements are 1, 2, 4 and 5 only.
★ASSOCHAM was formed in 1921 as an apex body by the European trading organization.
★FICCI was established in 1927 by G.D. Birla and Purshottamdas Thakurdas as India's apex business organisation.
★The increase in cotton duties was favourable to Lancashire industry.
★Indian industrialists and nationalists protested imperial preference and several resigned from the legislative assembly, including Birla and Thakurdas.
★The third statement on the cotton duties being limited to non-British goods is not accepted, so it is excluded.
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