India has been plagued by economic distress since gaining its independence in 1947. The effects of British colonialism were apparent in the new country, marked by a socialist economy and a distrust of other nations’ economies. After two previous attempts, the most recent ongoing push for liberalization began in 1991, aiming to reform taxes and the foreign market.
India’s troubles economic troubles have been prominent since the 1700’s, under the British Raj. The British, like most colonizing nations, implemented systems that benefited the mother country, with little regard for the colonies: “Moreover, having to rely on powerful rural allies, independent governments found it difficult to implement redistributive policies or any structural …show more content…
(Ganguli 728-729) Naoroji identified six issues caused by British imperialism that were draining money from the economy. The first was that India was being ruled by a foreign government. This government operated out of self-interest, rather than mutual economic gain. Secondly, because of the poor conditions within India, the region did not attract any migrant workers to boost the economy. Naoroji’s third reason was that India was forced to pay for Britain’s occupation, to maximize England’s profits. Fourth, India was expected to build its empire, and ignore other necessary costs. Fifth, Britain opened the country up to free trade, which Naorobi recognized as a method of employing foreign personnel rather than Indian workers. Finally, the highest income earners were not Indian, and instead were British officials looking to use the money for their own country. (Ganguli 85-102) Naoroji’s work was highly respected in India, as he identified the famine as being related to colonialism and actively worked against the problems Britain was causing: “Further development was checked by the frequent invasions of India by, and the subsequent continuous rule of, foreigners of entirely different character and genius, who, not having any sympathy with the indigenous literature— on the contrary, having much
India’s troubles economic troubles have been prominent since the 1700’s, under the British Raj. The British, like most colonizing nations, implemented systems that benefited the mother country, with little regard for the colonies: “Moreover, having to rely on powerful rural allies, independent governments found it difficult to implement redistributive policies or any structural …show more content…
(Ganguli 728-729) Naoroji identified six issues caused by British imperialism that were draining money from the economy. The first was that India was being ruled by a foreign government. This government operated out of self-interest, rather than mutual economic gain. Secondly, because of the poor conditions within India, the region did not attract any migrant workers to boost the economy. Naoroji’s third reason was that India was forced to pay for Britain’s occupation, to maximize England’s profits. Fourth, India was expected to build its empire, and ignore other necessary costs. Fifth, Britain opened the country up to free trade, which Naorobi recognized as a method of employing foreign personnel rather than Indian workers. Finally, the highest income earners were not Indian, and instead were British officials looking to use the money for their own country. (Ganguli 85-102) Naoroji’s work was highly respected in India, as he identified the famine as being related to colonialism and actively worked against the problems Britain was causing: “Further development was checked by the frequent invasions of India by, and the subsequent continuous rule of, foreigners of entirely different character and genius, who, not having any sympathy with the indigenous literature— on the contrary, having much