Stock market development and economic growth in Nigeria (1080-2009)

India’s middle class was the creation of the British rule and the introduction of English education in the country. The formation of a modern middle class in India can be traced to the colonial era when Macaulay’s policy of promoting western education in English was adopted. The establishment of schools and colleges to impart western education to Indians so as to cater to the needs of an expanding bureaucracy gave rise to a class of white-collar workers managers and professionals who were influenced by western values of universalism egalitarianism freedom and democracy.