Drain was done through trade, industry and finance
Two elements of the drain
That arising from the remittances by European officials of their savings, and fro their expenditure in England
Arising from remittance by non-official Europeans
India has to export much more than she imported to meet the requirements of the economic drain
In 1880 it amounted to 4.14% of India’s national income
Consequences of the Drain
Prevented the process of capital formation in India
Through the drained wealth, the British established industrial concerns in India owned by British nationals
It acted as a drag on economic development
MPPCS Notes brings Prelims and Mains programs for MPPCS Prelims and MPPCS Mains Exam preparation. Various Programs initiated by MPPCS Notes are as follows:-
