Maurya Empire converted the revenue producing economy of Northern India to a predominant agrarian economy and large areas of land were brought under cultivation. It was found that the land revenue was the most important source of income for the government and assessment at regular intervals brought about increase in land revenue. Collection of taxes was a matter of concern for the administration during the Mauryan rule.

During this time it was not that economic activities other than agriculture were unknown and discouraged. Maintaining herds of animals was an important economic activity of that age. Moreover the practice of keeping herds of animals was also considered a taxable activity. It can be said that during that time all kinds of commercial activities especially those in the coastal area was controlled by the government and all taxes, tolls and customs that evolved from the commercial activities went to the government. In fact the system of taxation evolved from the system of collecting taxes from the agricultural produce.

Not only was the state involved in agriculture but private owners in the form of farmers and landowners were also involved in cultivation of the land. The farmers and land owners paid taxes to the government and the large landowners collected taxes from the small scale tenants in turn.

It was during this time that a number of wastelands were cleared and many people came to the new lands for settling. Among the new group of people that had come to settle in the newly found lands, there were a large number of Shudras. In the initial stage the Shudras were exempted from taxes but in the later stages, when they started working on the land, taxes were imposed on them.

Maurya Empire had two types of land revenue. One was tax imposed on the area of the land produced and the other was taxed imposed on the production that was received from the area of the land.

Agriculture did not contribute alone to the economic activity of the state during the Mauryan reign, even various associations of crafts developed. The various associations of crafts that evolved during this time gave rise to trade activities of the region and added to the economic activities of the state. In fact it can be said that it became an important component of the economic activities of the state.

Megasthenes had recorded that the practice of tax evasion was present during the Mauryan dynasty but at the same time the practice of tax evasion was heavily punished. The prices of goods were also controlled to a large extent in the area so that merchants could not get an opportunity to make huge profits. There was no banking system present at that time but still there was the presence of usury at that time. Generally the rate of interest that was charged per annum was 15 percent. However, transactions that were less secure charged an interest rate which was as high as 60 percent.

As far as art and craft of that era is concerned, mostly terracotta and stone sculpture flourished during that time. But stone sculpture was mostly the choice of the wealthy and the powerful in contrast to the terracotta forms of art which was the domain of the humble strata of the society.

Hence, it can be concluded saying that economy during the age of the Maurya kings was mostly dependent on agriculture with a little percentage of the economy coming from other commercial activities.