ECONOMIC CONDITIONS

ECONOMIC CONDITIONS

There was all-round progress in ab' i.:.]1ture, trade and industry, Basically, the economy was "t;:,n'::-- .nd the majority of the population were agriculturists.}-. ::-l~ were also engaged in animal-husbandry and cattle-breeding which meant additional income to peasants and the state. In the sphere of trade and industry, the state had monopoly over mining and the production of many trade articles such as liquor and arms. Indian silk and cotton were in much demand in western countries. The existence of srenis (guilds), which managed both internal and external trade, many industries and the banking system also proves that trade and industry were not only well organised but were also conducted on a large scale. There were coins of different metals for the purpose of exchange. The most popular amongst them were nishka, a gold coin; purana, a silver coin; and karshapana, a copper coin.

The economic organisation was characterised by heavy taxation by the state Roads helped in trade and transportation. The royal highway between Taxila and Pataliputra was the ancestor of the Grand Trunk Road of today. Pataliputra was also connected to the eastern port of Tamralipti.