indian economic history – IV

February 28, 2010

Taking forward from where i left last time. in this piece i will try to trace out the various influences starting from mid 18th century to late 19th century.

Indian scenario:

  1. Standardisation of currency, weights and measures in 1835.
  2. increased commercialisation.
  3. Integration with the world market.
  4. Railways, canals and improved roads.
  5. Increase in cultivable land.
  6. Production of cash crops increased.

British influence

  1. Improved infrastructure.
  2. Rule of law.
  3. Property rights.
  4. Import of cheap machine made textiles to India.
  5. Export of food grains to Europe and England.
  6. Introduction of steam powered Iron boats.


  1. Opening of Suez canal(1869)
  2. American civil war.
  3. World war and napoleanic wars.

analysis: It is not easy to analyse with just a few of these influences. But on the whole the class structures changed a lot. previous class that were powerful were displaced. the supply of credit increased. but the level of small farmers were as bad or worse than ever before.they were still on substistance living.this meant that any little change in monsoon or variation in production of food grains created a devastating inpact on their lives. their disposable income was the same(as good as null and void).the technology used in agriculture was still primitive.but the british did one big favour by bringing in standardisation to the whole of the country, improved infrastructure. the rule of the east india company meant that there was surety that the rule will continue for a long time. they repaired canals and roads increasing in the amount of cultivable land.

all this makes me say just onething that being under the yoke of british was in sense a vaccination that we indians needed for unification and waking us out of the slunber that we were in for a millenium. without them probably we wouldnt have been where we are right now. all said and done the saying that british took away our wealth whether right or wrong i dont care,but what they left behind is incalculable. they took over a fractured idea and gave back a big ironic.


economic history part-3

February 28, 2010

when we talk about Nehru i feel that we need to go really back in time to understand how we were and the way we were influenced a lot on the way we did business. we were predominantly an agrarian society. we had a lot of disadvantages.

  1. Too huge a country for homogeneity.
  2. No standardised system of weights or measurements.
  3. Bad or no connectivity of places.
  4. brigands, dacoits, pindaharis and thugs in large numbers.
  5. the system of varna which stiffled the enterpreneurial spirit in many people.

These were some problems, but overcoming them we were the largest in gdp. infact we were either the first or the second for many centuries.

some unique features of indian economy were as follows. they might be positive or negative but they were unique for us.

  1. The hundi system.
  2. The presence of business prince.
  3. The caste based system where each trade for a particular caste.
  4. Major business houses situated near the ports of india as the hinterland waterways and roads not well devveloped.

the points brought out here are not speculative. they are facts which can be verified easily. i am just trying to prepare a collage of all the available data.

to be continues.

economic history- part-2

February 28, 2010

in this article i will deal with the post-independance economic history of india. it is really hard to be unbiased with nehru. but it will be a truly unbiased version of facts and figures, with a little bit of comments.

after independence the GDP of india was a dismal 3.5% at the time of independance. it was almost more than 30%. people have blamed imperialism for our state of affairs. but the moment after independence also after the death of sardar patel nehru took over the economic plicy of our country.

but before we get into the facts few important things to remember. there were few constraints under which nehru was workin.

  1. after the birth of india it was a chaotic period.
  2. nehru was influenced by fabian socialism a lot.
  3. he was an admirer of soviet style centra economy.
  4. he was more of a vsionary than a pratical results oriented man.
  5. disdain for many things indian mainly hindu religion for example. which was unfortunate as to understand india hindu was a potent teacher.

these are a few. but de credit to nehru that there were a few world class institutes that were born during his tenure. let nybody be there for having started them, but as long as he gave them freedom he can be given the due credit.

his economic thinking or whatever semblnce of it present.

  1. the state should be the enterprenuer.
  2. invest in heavy industry and subsidise small scale industres.
  3. inward lookin economy.
  4. state regulation and intervention in all possible aspects.
  5. the beleif that everyone else will know-toe his line and follow him blindly.

it is more important to understand the circumstances that were prevalent that time and then go about making judgements. more will folow. but it will be mostly based on historical and indian cultural perspective.

to be continued.

indian economic history through out the ages-1

February 28, 2010

Dear all,

this topic i am going to dwell on the ecomic evolution of our country. but before that i will present few facts about our country. Some of them are accurate but some of them are not. they are all taken from commonly available sources from libraries and mostly from wikipedia.

indus valley: agrarian based trade carried out with foreign nations.

  1. GDP from 1st AD till 11th AD – 32.9%.worlds largest economy.
  2. GDP on 16th century during Mughal’s- 2nd largest – 24.5%
  3. GDP akbar’s time 2nd in the world- 22.6%.
  4. GDP aurangazeb 1st in the world with a revenue of 100 million pounds.

the economy has almost been on the top five. it always was and will always be, it aint no patriotic junk. hard facts and statistics. our population is our asset. but then came the brits and their esteemed east india company. not that i am blaming them, they did what any honourable theif or exploiter will do. use us.

from 1775 till 1850 we shifted back to 3rd in GDP. this happened mainly because of these few reasons that are known.

  1. diversion of funds from india to fuel nepolianic wars.
  2. stifling of our international trade to help fuel the industrial revolution that was in its incubatory stages in britain.
  3. Gold standard was adopted by britain but silver standard was adopted by India, the exchange rates were pretty skewed.
  4. The influence of cambridge on nehru who was veering towards fabian socialism. this can be stated as one example where literacy proved to be a bane rather a boon to our country.

but all said and done there were many good things that happened because of brits. some of them are as follows

  1. total control of the whole country, iniformity, taxes, external trade and coinage.
  2. massive industrialisation. building of railways, roads and job creation.
  3. the creation of economic professionals who could think from and our perspective.

this is just the begining. what happened might be a little inaccurate. but post- independence we have accurate data. and because of this data, our growth rate has been termed with the derogatory terminology of the hindu growth rate. hovering around 3 to 3.5%.


stages of my life

February 28, 2010

first few years: was a baby and a child. dependant on others for even my basic needs. do this and do that. then slowly out grew my pants.grew a little bit more to fight and ask questions better.grew enough not much to be petted and patted as a child still.

the confused teens: not understanding what the hell was happening. why it was happening. the guilt of forbidden pleasures.the pimples, gruff voice and the awareness that i am a guy and there are girls around.the realisitation that apart from call of the nature there are things beyond, that happen with our own equipment.and a bit of a rebel for no reason. basically why the hell should they.

the man that grew from scattered soil: the mush was black enough. the awareness that not everyman is equal. that some are more beautiful than others. the hard realities of life and the ambiguousness of the perfect world of books where efficiency can be more than 50%.and the fact that , what the magazines say actually can affect you. we also can be a statistic among all others deaths and cunstruction.

a child again: we are again told what to do. live like this, like that. by our better half. the smal ones. live for others make a sacrifice , invest here and there. but when do i get to be me. may be in the loo. hope it doesnt come to that. but even if it does what the hell.


gandhi: non-violence. IT WAS HYPOCRISY

February 28, 2010

non-violence was Gandhi’s main armament in his arsenal. and by non-violence he meant not using force harming others or anything related to causing bodily harm.


never ever have i seen somebody use his own personal yardsticks to compare the whole world. let me talk only about your non-violence, no deviating from it. you say that by using non-violence against violence the french statesmen surrendered against germany. and that it saved many lives. do you even know what you are saying. evil anywhere in any form has to be met with firm force and brutal conviction. a man who knows where he’s going will be given his space. how dare you call that brave. no it is not. it was cowardice of the highest order. you fight evil or you become one. i will like to compare that to just watcing somebody non-violently when they are violently molesting your better-half. what would you do mr.mahatma. is it too much for you to take, oh high and morally mighty one. you should answer this question, i can answer that very easily. kill or be killed. thats the only answer. do any of you disgree with me. please dont give me any scenarios where in it doesnt compare with your mother or sister. every thing you hold dear is equal to your own kith and kin. and so will be my country. this is my answer.

and last but not the least.



are we indians a wounded civilisation

February 28, 2010

i have never read v.s.naipauls book by this name. but after reading bits and pieces oh history and lot of geography. each time i speak about my country. are we a wounded civilisation. we hit females that too in front of the cameras but yet say that our country is she, so are the rivers. how can there be so much of contrast in this huge land of ours.i really try finding out by reading out lot of books. but yet again history is subject where objectivity doesnt reign supreme.where am i to go for untainted knowledge about my country.we are so scared of criticism that we will take up cludgels at the smallest hint. why is it that we cant go after politicians the same way we go after those poor innocent girls. man this is an ultimate shame. why cant we change that chaltha hai attitude.when are we going to realise that we are in great danger from ourselves when we just call the hindu’s right wing nationalists when they defend what is ours. how can our religion or rather a great book of thoughts and philosophies not able to convince our own kith and kin when it comes to the greatness of hinduism. why cant we live the way we want. why is there so much of intolerance. is the india that i am living in today where even chandra gupta maurya who along with his minister chanakya used marriage as a potent tool of diplomacy by marrying a greek princess. wake up my country men. you have slept enough. now is the time to wake up. the more you sleep the more you will bloat with bed sores.

god. are u really powerful or a failed genetist

February 28, 2010

the concept of god started when there was a reason to be searched for the infinity and unknown that surrounded us. to give us the hope that there is reason after all, in this big chaotic world. there is a method in this madness. after so many years of science,religion, blood and reasoning we have come to the conclusion that evolution is the reason for us being here. man the penultimate creation of god. man the being with the extra sense to be of sense and the being with the power of ideas. he who could give life and improve it. but in the end what did he do. everything that was not supposed to be done.killed his own , the others and wrote poetry to glorify. he perfected the art of being a hyena in cunning. he had memory of follies that could have been just that, no he had to better it by having a memory better than that of an elephant.we just kept getting better and better at being the best in the worst. where do we go from here. corruption, poverty , rape , molestation and all synonyms that lead to one logical conclusion:man. so i beleive that god is a bad genetist. did not know what he created or was too confident of himself. after reading all this there is one more conclusion to make. that instead of blaming man iv blamed god. you see even i , am a product or rather a byproduct of god, if there is one.

tom clancy(he might be the reason for 9/11)

February 28, 2010

we all have read and some have enjoyed it. but there are few facts that i would like to bring forward about his on of his books he has written about an japanese pilot crashing his plane into white house or senate in one of his novels to avenge the defeat of japanese army by the american army. he has actually given away the idea for free in the name of bestselling idea. it was for all to pick and choose the best possible idea. now more on his writting style. in most of his books he acts more like a salesman for american products like beef, beer and lifestyle. well if anybody has even an iota of iq present in him/ her then many would see through it. most of the times he harps about these things. and in the book rainbow six he has yet again given the idea of kidnapping and destroying the whole world. well mr.clancy you do have blood in your hands. and next time if anybody says that you write good books, i would like to say that yes your ideas are good, but the way you write is a pathetic excuse for pseudo-jingoism. dont act like a refugee mr.tom. i thought you aint one.

if asoka could we can

February 28, 2010

recently read a book by an indian author, games indians play. well after reading that, one thinks that we really are responsible for whatever has happend to us. starting from filth to our inner muck. blame we will, but change we will not. why should i , if every1 else does. then multiply that by a billion , then u have the end result. people will atad up for an insult to the poilitician idol, but they will not for lack of good public health facilities. chalta hai bhi is the attitude we have had. being individualistic has its pro’s and cons. but man i wud rather be a corrupt and clean individualist than anything else. wil we change , i hope so. coz i have taken an oath to do so. not to litter , stand up for issues and try to make a differnce. we can say that our country has attained independence if some gets highlighted for being a bad example than being a good specimen. make an oath to yourself for our country where we have had angels like bhagath singh who was a god in his age and ours also,and also to country which is not bold enough to question its own mistakes. ask answer and analyze. be bold , be brave and ask questions. where asoka was able to

realize even we can. traditions are just old habits that die hard. not all of them , we require them as long as they serve the purpose, not when they spoil the purpose for which they have been started. jai hind. also would liketo share this with you, mera bharat mahan, sou may ninyanvay beiman.