Which one of the following statements about the Colonial economy is NOT correct ?
- A.The British presence inhibited indigenous capitalism
- B.Laissez-faire actively promoted indigenous capitalism
- C.The 'white collective monopoly' came earliest and remained most pronounced in Eastern India
- D.The Bombay hinterland was difficult to penetrate before the construction of railways
Show answer
Under colonial rule laissez-faire meant that the state left the economy open to British goods and capital; it did nothing to promote Indian capitalism and in practice left Indian enterprise unprotected.
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