Who among the following put forward the famous Drain Theory?

Correct answer: Dadabhai Naoroji

Explanation: The famous Drain Theory was propounded by Dadabhai Naoroji, highlighting the continuous economic exploitation of India by the British. 📚 Other Information: ▪️ It was first presented in his book 'Poverty and Un-British Rule in India' (1901). ▪️ Naoroji argued that India’s wealth was being drained to England without adequate return. ▪️ The causes included home charges, profits of British companies, and military expenditure abroad. ▪️ The theory exposed how colonialism impoverished India. ▪️ He described India as a “bleeding country” under British rule. ▪️ This theory became a key economic argument for nationalism. ▪️ It influenced moderate leaders like Gokhale and Ranade. ▪️ The concept later shaped India’s demand for self-rule and economic independence.