In the previous post, we have read about the administrative reforms of Lord Curzon. Now, we can say that all the reforms of Lord Curzon had some intentional motive to help the British Empire in India. So, he was a mastermind, who simultaneously following the policy of appeasement and policy of exploitation.
In this post, we shall read about the Economic Reforms during the period of Lord Curzon.
Economic Reforms
Agricultural Reforms
Land Resolution Act 1900
By the Land Resolution Act of 1900, Lord Curzon ended the sunset law of 1794. So, he asked revenue officers to be liberal with the farmers. In this way, he protected farmers from being exploited by the state.
Punjab Land Alienation Act 1902
The biggest enemy of farmers was money-lender. During the British period due to the backing of the government, these money lenders took larger interest rates from the farmers. So, this turned farmers into a landless community.
Under the Punjab Land Alienation Act, it was said that non-agriculturist will not be allowed to take away the land of agriculturists. So, in this way, Lord Curzon protected farmers from money lenders.
Research and Development Department
Lord Curzon was the first Viceroy of India, who established the research and development department for agriculture. These departments called as Pusa Institute situated in Bihar.
Co-operative Banks
He was the first Viceroy who established co-operative banks in India to provide loans to the farmers at the easiest interest rates.
Moncrieff Commission
To review the condition of irrigation in India, Curzon appointed the Moncrieff Commission. So, after the recommendations of the Commission old canals were repaired while new canals were constructed. Example,
- Bari (Beas and Ravi rivers) Doab Canal in Punjab.
Though all these agricultural economic reforms seem to be good. But there was also some hidden agenda of Lord Curzon for these reforms.
Railway Reforms
For Railway reforms, Curzon invited Thomas Robertson, the Railway expert from Britain. The objective was to review the condition of the railway network in India. Due to the recommendation of Thomas Robertson largest number of Railway lines laid down in India during the period of Lord Curzon.
Gold Standard
The most important economic reform of the Curzon was putting India on Gold Standard. He was the first Viceroy of India who placed India on Gold Standard. Curzon introduced the modern currency system in India. So, by keeping India on Gold Standard wealth of the nation was required to be declared.
Actually, this was against the interest of Britishers. So, Lord Curzon understood his mistake of doing this. Finally, he ended the Gold Standard and started the Gold exchange plan. Under this plan, Gold became the payment for the imports. So, this maintained the drain of the wealth of Indian currency.
This was all about the economic reforms of Lord Curzon. In the next coming post, we shall discuss the Foreign Policy of Lord Curzon. Soon, in the subsequent post, we shall discuss the Partition of Bengal and its impacts.
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