INDIAN ECONOMY on the eve of INDEPENDENCE class 12 ONE SHOT | GAURAV JAIN

Summary

The video traces India’s journey from its prosperous era as the 'Golden Bird' to the hardships under 190 years of British colonial rule. It highlights the systematic exploitation of agriculture, industry, and trade, the imposition of the Zamindari system, decline of handicrafts, and demographic challenges like high birth and death rates, low life expectancy, and literacy. Despite this, colonial infrastructure—railways, ports, postal systems—and institutional frameworks left enduring legacies. The narrative emphasizes how India emerged from these challenges at independence in 1947, laying the groundwork for modern economic development while acknowledging the critical lessons of history for students of economics and national growth.

Q & A

Why was India referred to as the 'Golden Bird' before colonial rule?

India was called the 'Golden Bird' due to its prosperity, wealth, thriving agriculture, flourishing trade, and renowned handicraft industries. The country had strong business relations with Europe and Asia and offered opportunities in trade, agriculture, and various industries.

When did the British East India Company arrive in India, and what was their initial objective?

The British East India Company arrived in India in 1608 to trade spices, starting with the city of Surat. Their objective eventually expanded to capturing control over the entire country.

What was the main aim of British colonial rule in India?

The British aimed to make India an exporter of raw materials and an importer of British manufactured goods, keeping India dependent on Britain while enriching their own economy.

What was the Zamindari system, and how did it affect Indian farmers?

The Zamindari system transferred land ownership from farmers to landlords. Farmers had to pay rent to landlords regardless of crop success, leading to forced commercialization, production of cash crops, low agricultural productivity, and dependence on British demand.

How did British policies impact Indian handicrafts and small-scale industries?

British policies imposed discriminatory tariffs on Indian products, making them expensive in international markets while allowing British goods free entry. Combined with machine-made, cheaper British products, this led to the decline of Indian handicrafts and micro industries.

What infrastructural developments did the British introduce, and who primarily benefited from them?

The British introduced railways, roads, ports, air transport, post, and telegraph services. These were designed to facilitate the transport of raw materials to Britain and primarily served British interests, though they later became key assets for India.

What was India’s demographic situation at the time of independence?

India had a high birth rate (48 per 1,000), high death rate (40 per 1,000), high infant mortality (218 per 1,000), life expectancy of 32 years, and very low literacy rates (less than 16% overall, and below 7% for women).

What is meant by the 'year of great divide' in India’s demographic history?

The 'year of great divide' refers to 1921, when India transitioned from stage one to stage two of demographic transition. Death rates began declining while birth rates remained high, marking the start of population growth.

Which economists contributed to estimating India’s national income under British rule?

Economists such as Dadabhai Naoroji, William Digby, Finlay Siraj, VKRV Rao, RS Desai, and others contributed to estimating national income and per capita income. VKRV Rao’s estimates were considered the most accurate.

How did colonial rule inadvertently contribute to India’s post-independence development?

Colonial rule introduced railways, monetory systems, administrative frameworks, and commercialization of agriculture. While initially exploitative, these later supported industrial growth, infrastructure development, and economic planning in independent India.

What were the stages of demographic transition mentioned in the video?

Stage 1: High birth rate and high death rate (stagnant economy); Stage 2: High birth rate and low death rate (initial development); Stage 3: Low birth rate and low death rate (developed or developing economy). India moved from stage 1 to stage 2 after 1921.

What role did railways play during and after British rule?

During British rule, railways were built to transport raw materials efficiently to ports for export to Britain. After independence, they became a national asset, forming the fourth-largest railway network in the world and supporting India’s economic development.