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Colonial India was the part of the Indian subcontinent that was occupied by European colonial powers during and after the Age of Discovery. European power was exerted both by conquest and trade, especially in spices .
When their occupation of Ethiopia ended in 1941, the Italians left behind a country whose economic structure had changed little in centuries. [1] Some improvement had taken place in communications, particularly in road building, and some limited attempts had been made to establish a few industries and to introduce commercial farming, particularly in Eritrea, which Italy had occupied since 1890 ...
The Paper Currency Act, 1861 gave the Government of India the exclusive right to print and circulate banknotes and thereby abolishes the printing and circulation of banknotes by the private Presidency Banks. Until the establishment of the Reserve Bank of India on 1 April 1935, the Government of India continued to print and issue banknotes. [2] [3]
According to the Ethiopian Central Statistical Authority, there was sustainable economic growth in the fiscal years of 1960–1961 and 1973–1974. Between 1960 and 1970, Ethiopia enjoyed an annual 4.4% growth rate in per capita production and gross domestic product (GDP).
The Negus claimed that more than 275,000 Ethiopian fighters were killed compared to only 1,537 Italians, while the Italian authorities estimated that 16,000 Ethiopians and 2,700 Italians (including Italian colonial troops) died in battle. [84]
Just a few years before the Independence of India, the Reserve Bank of India Act, 1934 was passed which effectively repealed The Paper Currency Act, 1861. From now onwards, the Reserve Bank of India became the sole issuer of banknotes in India.
In 1896, Emperor Menelik II’s conquest strongly consolidated Ethiopia’s modern borders while eluding the 19th-century Scramble for Africa and Italian colonialism. Eritrea was annexed by the Ethiopian imperial government under Emperor Haile Selassie in 1952, culminating in the Eritrean War of Independence.
Due to its ancient history as a trading zone and later its colonial status, colonial India remained economically integrated with the world, with high levels of trade, investment and migration. [ 14 ] From 1850 to 1947, India's GDP in 1990 international dollar terms grew from $125.7 billion to $213.7 billion, a 70% increase, or an average annual ...