History · Economic History of Modern India

Which one of the following statements is INCORRECT regarding the 'Drain of Wealth' theory?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The Drain of Wealth theory exposed the economic exploitation of India under British rule.
2Dadabhai Naoroji formally presented the theory of Drain of Wealth inside the British Parliament.✓
3Capital was drained through salaries, pensions, and home charges of civil and military officials.
4It refers to the systematic transfer of India's economic wealth to England without adequate returns.

Correct answer

Dadabhai Naoroji formally presented the theory of Drain of Wealth inside the British Parliament.

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