British Loans Burden India's Economy (1837-1908)

Subject

Indian National Movement

Chapter

Advent of the Europeans

  • India's loan to England rose from 130 million pounds in 1837 to 220 million pounds
  • 18% of loans funded British wars against Afghanistan and Burma
  • Railways debt reached 177.5 million pounds by 1908
  • British guaranteed 5% interest to English private enterprises in sterling