Q. Which of the following was/were comes under the “Home Charges” of British India?
1.Profits to Company shareholders living in Britain
2.Guaranteed interest to investors in railways
3.Interest for the money borrowed from England to meet war expenses
How many of the statements given above are correct?
Answer: C
Notes:
Explanation: Naoroji argued that India had exported an average of 13 million pounds worth of goods to Britain each year from 1835 to 1872 with no corresponding return.
- The goods were in lieu of payments for profits to Company shareholders living in Britain, guaranteed interest to investors in railways, pensions to retired officials and generals, interest for the money borrowed from England to meet war expenses for the British conquest of territories in India as well as outside India.
- All these, going in the name of Home Charges, Naoroji asserted, made up a loss of 30 million pounds a year.
Source: NCERT
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.