Economy of Mauryan Empire - Informative & researched article on Economy of Mauryan Empire
  Indianetzone: Largest Free Encyclopedia of India with thousand of articles History of India


in  
Art & Culture | Entertainment | Health | Reference | Sports | Society | Travel
Forum  | Free E-magazine
History of India : Sources of History of India l Ancient History of India l Medieval History of India l Modern History of India l Indian Historical Dynasties l Indian Battles l Sepoy Mutiny 1857 l Indian Rulers l History of India l Indian Freedom Struggle l Indian Governor- Generals l British Indian Acts l Post Independence India l Iron Age in India
Home > Reference > History of India > Maurya Empire > Economy of Mauryan Empire
Economy of Mauryan Empire
Economy of Maurya Empire was fairly developed for its time. The economy was dependant on land revenue, trade and animal husbandry.

SanchiGateMaurya EmpireEconomy of Mauryan Empire witnessed a well organized tax system devised by Kautilya. Land revenue was going to be a major source of income from the government. Land was subjected to regular assessments and an appropriate level of tax was levied. Industries and enterprises were also taxed. The government also introduced the concept of state owned farms. The king owned the land and his subjects were employed for its cultivation. Crops were used to sustain the population that worked on it and the surplus was taken by the government. This policy of the government eased the problem of overpopulation.

A stable centralized government and the unity of the sub-continent resulted in the rapid development of industry. Trade received a major boost as did various craft guilds. Able administration ensured that trade became easier, and the guilds soon developed into small scale industries. The development of guilds was an important step. Guilds were large organizations which employed labour for a particular commodity. Artisans joined the guilds as it provided steady employment and was easier. The government also found the guilds convenient as they also made the process of tax collection and administration easier.

All manufactured goods came stamped with a date, which would then be used by consumers to determine the age of the product. The sale of merchandise was regulated. Prices were monitored to ensure that a merchant was not making too much profit. A trade superintendent carefully evaluated the product, the price and the demand and supply situation. He would fix a value for the commodity. One fifth of this value would be charged a toll and a further one fifth tax was charged on the toll. There was no banking system but the concept of lending money did exist, and the rate of interest is estimated to have been about 15% per year. For loans in sectors like sea travel the rates were much higher.

Extensive trade relations were developed. Trade took place with several countries like Syria and Egypt in addition to several others in the West. There were many foreign traders who took up residence in Mauryan cities. Several goods were exported and imported. The Mauryan kings imported wines, figs, clothes and beautiful vessels made out of silver. The Mauryan exports were items of luxury like fine muslin cloth. The Mauryans soon built ships and hired them out for trade to merchants.

The Indian economy was a settled agrarian economy by this time. Animal rearing was also an important occupation.

(Last Updated on : 25/10/2011)
  More Articles in Maurya Empire
 
Background and History of Mauryan Dynasty Origin of Mauryans Sources of Mauryan history
Administration of Mauryan Dynasty Downfall of Mauryas Expansions of Maurya Empire
Mauryan Kings Religion During Mauryan Dynasty Art in the Post-Mauryan Period
Pushyamitra Sunga Economy of Mauryan Empire Mauryan Society
Mauryan Art Military Administration under Mauryan Empire Judiciary System in Mauryan Empire
Revenue System of Mauryan Empire Literature during Mauryan Empire Administration in Post Mauryan Period
Society in Post Mauryan Period Trade in Post Mauryan Period Economy in Post Mauryan period
Agriculture in Post Mauryan period    
Recently Updated Articles in History of India
  • Mughal Architecture
    Mughal architecture is a combination of Islamic, Persian, Turkish and Indian architecture. It is a style that was developed under the Mughal dynasty in the sixteenth and seventeenth centuries.
  •  
  • Mansabdari System in Mughal Dynasty
    Akbar introduced the Mansabdari System in the Mughal army which primarily meant the ranking of officers on decimal system.
  •  
     
  • Deccan Policy of Mughal Dynasty
    Deccan Policy of the Mughal dynasty was weak during the reign of Babur and Humayun but after the accession of Akbar on the throne, the political situation changed and the Deccan policy was a success.
  •  
  • Coins of Pandyas
    Coins of Pandyas bear the legend of different Pandya ruler in different times.
  •  
  • Art and Architecture of Mughal Empire
    Art and architecture of Mughal Art offers an aesthetic degree to all art lovers. The subtlety of the finesse and the dazzle of the aura create huge amount of interest among tourist.
  •  
    E-mail this Article | Post a Comment
    RSS Feeds
    Forum
    Forum on History of India

    Free E-magazine
    Subscribe to Free
    E-Magazine on Indian Crafts
     
     
    Economy of Mauryan Empire - Informative & researched article on Economy of Mauryan Empire
    Sitemap
    Contact Us   |   RSS Feeds
    Copyright © 2008 Jupiter Infomedia Pvt. Ltd. All rights reserved including the right to reproduce the contents in whole or in part in any form or medium without the express written permission of Jupiter Infomedia Pvt. Ltd.