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Question
Explain Home Charges.
Solution
- The East India company remitted to England what was called Home Charges.
- It included the dividends on East India’s stock, interest on debt, savings from salaries and the pensions of officers and establishments and buildings in the India Office, London, transporting cost of British troops to and from India.
- This drain of wealth in the form of Home Charges in course of time rose to 16 million pounds per year.
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