Correct Option (D):
Sir Syed Ahmed Khan did not subscribe to the Drain Theory proposed by Dadabhai Naoroji. He was a proponent of cooperation with the British government, believing that British rule brought stability, modern education, and development to India. He attributed India's economic backwardness primarily to internal societal issues and the lack of modernization among Indians, rather than to British economic exploitation. He actively promoted modern education, establishing the Mohammedan Anglo-Oriental College (later Aligarh Muslim University).
Incorrect Options:
Bal Gangadhar Tilak: He was a prominent nationalist leader and a strong advocate of the Drain Theory. He utilized this theory to criticize British economic policies and mobilize public opinion against colonial rule.
R.C. Dutt: As an eminent economic historian, R.C. Dutt extensively documented the economic exploitation of India under British rule in his work, "The Economic History of India." His writings provided substantial evidence supporting the principles of the Drain Theory.
M.G. Ranade: An early economic nationalist, M.G. Ranade critically analyzed British economic policies and their impact on India. He advocated for indigenous industrialization and economic self-reliance, thereby aligning with the broader critique of colonial economic drain.