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Drain of Wealth Theory30/12/2012

Drain of Wealth Theory

 R C Dutta & Dadabhai Naoroji first cited the drain of wealth theory. Naoroji brought ii to light in his book titled“Poverty And Un-British Rule In India”. R C Dutt blamed the British policies for, Indian economic ills in his book‘Economic History of India’ (1901-03).

 Drain of wealth refers to a portion of national product of India, which was not available for consumption of itspeople.

 Drain of wealth began in 1757.

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