Question

With reference to the Colonial period: State two economic changes.

Answer 1

1. The economic system got transformed by industrial growth and the process of urbanisation. Caste-based skills and occupations and social relationships gradually changed due to the impact of a changing economy and the rise of factories.
2. New revenue systems were started by the British in different parts oflndia which affected the peasants adversely. There was commercialisation of agriculture also. Subsistence economy was replaced by a market system which was profit oriented.