Under discriminatory tariff policy, there was no duty on the export of goods from India and import of British finished goods to India. But heavy duty was placed on the export of handicrafts. So Indian handicrafts stalled looking both domestic and export market. It led to the decay of Indian handicrafts.
What was the impact of discriminatory tariff policy on the Indian economy class 12?
Britishers followed discriminatory tariff policy. It allowed free export of raw materials from India and free import of British final goods to India, but placed heavy duty on the export of Indian handicrafts. In this way, Indian markets were full of manufactured goods from Britain which were low priced.
What was discriminatory tariff policy under the British rule in India?
Discriminatory tariff policy refers to the policy that imposed the heavy tarrifs on India exports of handicrafts products,while allowing free exports of India’s raw materials to Britain and free imports of British products into India.
What is meant by discriminatory tariff policy?
A discriminatory tariff imposes a different duty on a commodity imported from a trading partner than it does on on the same commodity from other partner.
How did discriminatory tariff policy contribute to the success of industrial revolution?
How did discriminatory tariff policy contribute to the success of industrial revolution in. … Due to this policy the inland manufacturers not only lost the demand in the international market but al in the local market, since machine made goods are much cheaper.
What were the main reason for slow growth of economy during British rule?
Explanation: ) The main reason for the slow rate of growth of population during the British rule were poverty, malnutrition, famines, epidemics and poor health facilities.
How did British destroyed Indian economy?
Britain’s devastation of India
The British took thriving industries — like textiles, shipbuilding, and steel — and destroyed them through violence, taxes, import tariffs, and imposing their exports and products on the back of the Indian consumer.
How did the British industrialize India?
India was forced to supply raw materials for triggering industrial revolution with greater rapidity in England. India was then forcibly transformed from being a country of combined agricultures and manufactures into an agricultural colony of British manufacturing capitalism.
What are the main reason for stagnation in agriculture sector during British rule was?
A few primary reasons for the stagnation of India’s agricultural sector during the British rule are zamindary system and its demerits, forced commercialisation of crops, the partition of India, etc. 2.
What is the tariff policy?
A tariff is a customs duty levied on imported and exported goods and services. Historically, countries used tariffs as a primary means of collecting revenue. … Congress and the President thus create U.S. tariff policy within the context of a rules-based global trading system.
What is a retaliatory tariff?
: a tariff imposed as a means of coercing a foreign government and intended to compel the grant of reciprocity privileges.
What is a higher tariff?
A tariff is a tax or duty imposed by one nation on the imported goods or services of another nation. … High tariffs usually reduce the importation of a given product because the high tariff leads to a high price for the customers of that product.