Colonial economic policy in India was characterized by a system designed to serve the interests of Britain, transforming India into a supplier of raw materials and a market for British manufactured goods. This often involved state intervention that created an unequal playing field disadvantageous to indigenous capital.
Which one of the following statements about the Colonial economy is NOT correct ?
Asked in UPSC CAPF 2017 · Topic: Economic Impact of British Rule on India (Limited Growth of Modern Industries under British Patronage)
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Answer: B. Laissez-faire actively promoted indigenous capitalism
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