IGNOU HISTORY NOTES : Modern India -CHANGES IN ECONOMY

IGNOU HISTORY Study Notes for IAS, UPSC Exams

Modern India 1857-1964

CHANGES IN ECONOMY

Structure

36.0 Objectives
36.1 Introduction
36.2 Explaining the Economic Changes
36.3 Decline of Trade
36.4 Paucity of Coins
36.5 Decline of Towns
36.6 Agrarian Expansion
36.6.1 Advances in Agricultural knowledge and Technology
36.6.2 Crops and Plants
36.7 Rural Settlements
36.8 New Pattern of Agrarian Relations
36.8.1 Obligations of the Peasants
36.8.2 Feudal Land Tenure
36.8.3 Growth of Closed Fkonomy
36.9 Let Us Sum Up
36.10 Key Words
36.11 Answer to Check Your Progress Exercises

36.0 OBJECTIVES

In this Unit our intention is to give you an idea of the economic changes in the Gupta and especially post-Gupta times. We shall thus discuss one major aspect of the transition to early medieval India. After reading this unit you should be able to understand:

the origin and economic implicatioqs of landgrants,
the process and consequences of the gradual decline of cities and other urban settlements,
the nature of villages and of village economy,
the nature of agrarian relations, and
changes which led to improvements in agricultural production.

36.1 INTRODUCTION

The Gupta and post-Gupta period was characterised by certain changes in Indian economy.

We have already mentioned in Block 8 (Unit 33) that trade and urban settlements, which were so much prominent features of Indian society started declining from the Gupta period onward. There are many indications of these changes :
1) Many important cities (such as Taxila, Kausarnbi, Pataliputra) ceased to exist after the Gupta period. This decline of urban settlements was not an isolated phenomenon ; it seems to have been quite widesperad;
2) Trade activities also suffered a setback because of various reasons. This is perhaps most clear from the fact that minting and circulation of coins were on a much more limited scale than before.
Details of these changes will be taken up for discussion later.
It may be noted that many of these changes had begun in the Gupta period itself. The decline of towns did not mean the overall contraction of the economy. However, let it be admitted that the economy, instead of walking on two legs - agriculture and urban activities of crafts production and trade - began to walk on one leg. It was predominantly agrarian economy.