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Colonial Legacy

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Published in: Economics
3,480 Views

Slides based on the chapter by BIPIN CHANDRA.

Parul G / Delhi

8 years of teaching experience

Qualification: M.A (Johns Hopkins University (USA) - 2015), B.A (Lady Shri Ram College for Women (LSR), Delhi - 2009)

Teaches: BA Tuition, Economics, Mathematics, Statistics

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  1. The Colonial Legacy
  2. Slides based on reading by BIPIN CHANDRA
  3. Impact on agriculture ' Stagnation and deterioration (especially in 1911-41) ' Per capita agricultural production declined at 0.72% p.a. ' Foodgrain output declined at 1.14% p.a. ' However, non-foodgrain output rose, but not by enough ' Yield per acre was nearly zero in the same time period Overall slow ' Foodgrain yield declines by 0.44% p.a. growth ' Non-foodgrain yield increased by 1.15% p.a. ' Resources transferred to commercial crops» famine risk
  4. Reasons for agricultural stagnation ' Colonialism made agriculture regressive primarily through the zamindari system ' No investment in land by landlords ' Rents were used to strengthen their own position by acquiring more land ' Not interested in improving agricultural productivity ' Peasants impoverished due to the large revenue/rent (rich ones became landlords) ' Famine, scarcity ate away any meager savings» unable to invest ' Resources taken away from agriculture ' Internal drain of capital (rich landlords extracting rents from peasants) Capitalist farming system didn't emerge, resulting in slow growth ' No technological progress Obsolete equipment, modern machinery largely absent ' Small farm size and fragmentation was an important reason behind this Improved seeds only for commercial crops Insignificant fertilizer use ' Irrigation somewhat progressed, in few pockets No knowledge of productive techniques/practices such as terracing, flood control, soil drainage
  5. Impact on industry ' Collapse of handicrafts in 1st half of 19th century, slow growth of modern industry in the 2nd half ' Some prowess was made after 1900s (20 century) in cotton, sugar, •ute, cement, paper, but overall share of industrial production in national income was low ' In terms of labour employment and share of national income, industry remained underdeveloped right after independence as well Table3 The Structure of National Income and Workforce of Undivided India 1900 and 1946 Sectors Percentage of workforce Pergcnlage or national income 1900-1904 1942-1946 1911 7418 1310 1951 20,9 12.4 57.6 17.1 agrictlitute; I = manufacturing, mining, transportT storage and communication; commerce and all other CEHI (1984),
  6. Reasons for slow industrial growth ' Absence of capital: there was dependence on imported machinery ' Banking, insurance was underdeveloped, hence mobilization of capital was difficult ' British owned banks favored British controlled enterprises, thereby denying investment opportunities to Indian enterprises ' Foreign trade and railways used as an instrument of underdev/exploitation ' Railway routes designed to promote British interests (exports and imports)
  7. Other indicators of backwardness ' Income and living standards were poor Stagnating income per capita (despite low population growth) ' Extreme poverty and starvation, due to frequent famines ' Low food availability ' Health High death rates, infant mortality rate ' Low life expectancy ' Frequent epidemics (smallpox, cholera) ' Communicable diseases (malaria, diarrhea) ' Amenities ' Poor (non-existent) sanitation and water facilities ' No electricity in rural areas ' Education ' Low literacy rates (less than 15%) ' Very few medical colleges and doctors
  8. Positive ' Steady rise of Indian owned and controlled industries ' Emergence of scientific and technical manpower E.g. Mahalanobis acreage and plant disease, Harold Hotelling ;wote: "No technique of random sample has, so tar as I can find, been developed in the United States or elsewhere, which can compare in accuracy with that described by Professor Mahalanobis" and Sir R A. Fisher commented that 'The ISI has taken the lead ' Indian capitalist class emerged, not in a subordinate position ' Nationalist ideology ' Rose above class, community differences and supported the nationalist movement ' Became instrumental in carrying out the development plans after independence ' Some progress made in banking and insurance (around 1947) in the original development of the technique of sample sutweys, the most potent fact finding process available t the administration"!)
  9. Nationalist Economic Framework ' Two main areas of focus ' Develop an economic critique of colonialism ' Frame the economic strategy to overcome India's backwardness post- independence
  10. Critique of colonialism ' Analysed the features of colonialism and their relation with India's underdevelopment Did not accept the colonial view that India was underdeveloped from the pre- colonial period itself ' Attributed the poor economic growth in India to the drain theory and appropriation by the British ' Taxation, plunder, tribute ' Bureaucracy and army ' Unequal exchange in the pattern of trade ' Investment of foreign capital in various sectors ' The opposition to colonial underdevelopment laid the foundation of the post- 1947 economic policy based on alternative, self-reliant development
  11. Economic strategy and planning Wii-renant Inaependent econognic development. Nationalist economic perspective and policies started evolving during the last quarter of the nineteenth century and came to crystal• lite in the Reports of the National Planning Committee (NPC), set up in 1938 by the Congress under the chairmanship of Jawaharlal Nehru, and the Bombay Plan published in 1944-45 by a cross-section o! India's leading capitalists, Purshotamdas Thakurda.sv J.R.D. Tata, C.D. Birla, Shri Ram, Kasturbhai Lnlbhai, A.D. Shroff, Ardeshir Italal and John Mathaie
  12. Economic strategy and planning ' National Planning Committee, 1938 Bombay Plan, 1944-45 ' Industrialization based on science and tech ' Industrial revolution along with other sectors Transport, finance, trade, labour policy
  13. Key points of the economic strategy ' Industrial development crucial for rural upliftment ' Reduce unemployment ' Heavy, capital goods sector and consumer/cottage industries ' Recognition of the need to abolish zamindari system ' Government support in the form of MSP ' Opposition to foreign capital ' Avoid further economic dependence and domination ' Foreign capital to be taken only in the form of loans and not direct foreign investment
  14. Mechanism to avoid dependence on foreign capital ' Direct foreign investment to be strictly controlled by the govt ' No foreign ownership in banking, insurance and aviation, fertilizers, petroleum ' Basic industries and infra to be developed and owned by govt ' Electricity, telephone, water etc ' Govt to function as a protective wall between foreign capital and Indian enterprises ' Foreign loans to be raised by govt RBI to be nationalized ' Direct and systematic state intervention crucial for econ devt Planning was emphasized Indian industries to get a ready market in the form of the government Govt to spend on irrigation and provide agri loans Licensing of crucial sectors to avoid monopolies and concentration of wealth State-funded technical education (llTs)
  15. Social emphasis, without socialism ' Adoption of socialism was not an immediate objective ' Egalitarian, equitable society was a goal ' Reduce inequalities ' State expenditure in water, sanitation, housing, education, electricity, transport

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