The Mughal Empire

Abstract

The economic activities of the Mughal empire derived from the basic urges which created and sustained it as well as the structure of polity devised for their fulfilment. Welfare of the peasantry was a basic norm of policy, though the nature of the Mughal state and its ruling class inevitably induced a persistent tendency to deviate. Rural society in Mughal India was not an undifferentiated mass of pauperized peasants. The Mughal state and the nobility invested a part of their income in the infrastructure. Perhaps the most wasteful economic activity of the Mughal ruling class was their practice of hoarding up immense treasures. In matters of taxation, beside the jiziya, the incidence of which varied according to one's wealth and income, Hindu traders paid duties at the rate of five percent while Muslims paid two and half percent. The Mughal policy towards trade and traders reveals a peculiar contradiction built into the structure of the empire.