Consider the following statements and select the correct answer from the codes given below the statements: Assertion [A]: Generally, India had a favorable balance of trade during the British rule. Reason [R]: The drain of wealth took the form of unrequited exports.

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CollectorBabu · Accepted Answer

Correct Answer: Both [A] and [R] are true and [R] is the correct explanation of [A]. * Both statements are correct there is constant flow of wealth in terms of raw material exported from India in return India get finished goods this resulted in monopolistic control over Indian market. * Dadabhai naoroji Put forward &ldquo;Drain of wealth Theory&rdquo;. He mentioned this theory in his book Poverty and Un-British rule in India and stated its as main reason of poverty in India under colonial era.

Consider the following statements and select the correct answer from the codes given below the statements: Assertion [A]: Generally, India had a favorable balance of trade during the British rule. Reason [R]: The drain of wealth took the form of unrequited exports.

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