Indian Economy on the Eve of Independence

This chapter examines the state of the Indian economy before 1947, when British colonial rule had transformed a self-reliant agrarian system into a supplier of raw materials and a market for British manufactures. It cove…

• The Indian economy on the eve of independence was a colonial economy designed to serve British industrial needs.
• Agriculture employed about 70-75% of the working population and contributed roughly 50% of national income.
• The zamindari system, ryotwari system, and mahalwari system were the main land tenure systems introduced by the British.

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