a. In mid-eighteenth century agriculture was the main source of livelihood, land was in abundance and the population was limited. So most of the people were engaged in agriculture. The surplus over the family requirements was exchanged with other commodities of requirements.
b. The fanners mainly produced food grains for their survival. The production of cash crops, such as jute, cotton, sugarcane, etc., was limited.
c. Production for the market was not the idea behind farming.
d. Methods and techniques of production were old and backward. It involved more physical work for people and animals.
e. Agricultural society was predominantly feudal in character. The cultivators used to pay land revenue to the rulers. There was heavy rate of land revenues Very little was left with the peasants after their hard labour. Industrial base was allowed to come up to be pride place so long enjoyed by the farmer.
1. Low erade modern industrial structure:
The progress of modem industry remained very slow. British meters neither permitted modernisation of industries nor they encouraged the growth of heavy industries in India.
2. Lacking of capital goods industries:
Capital goods were lacking. There was hardly any capital goods industry to help or promote further industrialisation in India. There were a few manufacturing units here and there. But they were no substitute to the near wholesale displacement of the country’* traditional handicraft industry.
3. Limited operation of the public sector:
Another significant drawback of the new industrial reach was the very limited area of operation of the public sector. This sector remained confined only to the railways, power generation, communication, ports, and some other departmental undertakings.
