For Indian nationalists the issue of economic exploitation under colonial rule was a central issue. Images of pre-colonial fabled riches of India contrasted with the poverty of British India. Modern ideas made people realise that poverty was preventable. Indian nationalists saw rapid industrialisation of the economy as the path towards both growth and social equity. Development of heavy and machine-making industries, expansion of the public sector and holding of a large cooperative sector were considered very important.

Match List I with List II.

 A-II, B-I, C-III, D-IV

The correct answer is Option 1: A-II, B-I, C-III, D-IV.

(A) British Colonialism → (II) Direct interference in production and distribution. British colonialism directly intervened in land ownership, agriculture, manufacturing, forests, and the production and distribution of goods to maximise profit.

(B) Western Education → (I) Nationalist and anti-colonial consciousness. Western education was introduced to create Indians who would assist the colonial administration, but it unintentionally led to the growth of nationalist and anti-colonial consciousness.

(C) Capitalism → (III) Means of production privately owned for profit. Capitalism is an economic system in which the means of production are privately owned and organised to accumulate profits within a market system.

(D) Swadeshi Movement → (IV) Loyalty to the national economy. The Swadeshi Movement encouraged the use of indigenous goods and strengthened loyalty to the national economy.