‘Drain of Wealth’, a critique of the colonial exploitation, was given by which of the following nationalist leaders?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Dadabhai Naoroji.
Dadabhai Naoroji, an Indian nationalist and economic thinker, proposed the "Drain of Wealth" theory in 1867. This theory was a critique of British exploitation of India and a key factor in the Indian independence movement.
- Naoroji's theory stated that Britain was draining India of its wealth. He believed that this was a major evil of British rule in India.
- Naoroji's theory was a powerful tool for Indian nationalists to rally public opinion against British rule.
- The theory helped to explain how Britain's economic policies increased India's dependency on Britain for manufactured goods, capital, and technology. This dependency stifled India's local industries and innovation.
- Naoroji's theory was further developed by other Indian nationalists, including R. P. Dutt and M. G Ranade.