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Science & Technology·Easy

According to Dadabhai Naoroji, the Drain of Wealth consists of which of the following? 1. Remittances by the European officials of their savings and for their expenditure in England for their various wants, both there and in India. 2. Pensions and salaries paid in England. Select the correct answer using the code given below:

According to Dadabhai Naoroji, the Drain of Wealth consists of which of the following?

1. Remittances by the European officials of their savings and for their expenditure in England for their various wants, both there and in India.

2. Pensions and salaries paid in England.

Select the correct answer using the code given below:

Options

  1. a.

    1 only

  2. b.

    2 only

  3. c.

    Both 1 and 2

    Correct answer
  4. d.

    Neither 1 nor 2

Explanation

Dadabhai Naoroji emphasized that the drain of wealth and capital from the country was responsible for the absence of development of India. According to him, “The drain consists of two elements – first, that arising from the remittances by the European officials of their savings and for their expenditure in England for their various wants, both there and in India: from pensions and salaries paid in England, and second that arising from remittance by non-official Europeans.

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