Q. With reference to the 'Drain of Wealth' theory in colonial India, consider the following statements:

1. The 'Drain of Wealth' theory was first articulated by Dadabhai Naoroji.
2. The economic impact of the 'Drain of Wealth' was primarily limited to the agricultural sector of India.
3. The concept of 'Drain of Wealth' is closely associated with the British East India Company's policies in India.

How many of the above statements are correct?
Answer: Only two
Notes: Statement 1 is correct: Dadabhai Naoroji first articulated the 'Drain of Wealth' theory in his work "Poverty and Un-British Rule in India." Statement 2 is incorrect: The economic impact was widespread, not limited to agriculture. Statement 3 is correct: The British East India Company's policies contributed significantly to the drain of wealth from India.