CBSE Class 11 Economics – Indian Economy on the Eve of Independence

Chapter Overview

This chapter provides insights into the structure and condition of the Indian economy under British colonial rule. It discusses the backwardness and stagnation of the economy on the eve of independence. The chapter highlights sectors such as agriculture, industry, foreign trade, infrastructure, demographic profile, and occupational structure, along with the impact of colonial policies.

Important Keywords

• Stagnant Economy: An economy with little or no growth over a long period.
• Colonial Exploitation: Economic policies aimed at benefiting the colonial power at the expense of the colony.
• Commercialisation of Agriculture: Shift from subsistence farming to crop production for the market.
• Demeaned Industrial Sector: The decline of indigenous industries due to British policies.
• Drain of Wealth: Economic surplus from India transferred to Britain without adequate returns.
• Demographic Profile: Data about population characteristics like birth rate, death rate, and literacy.