With reference to ancient Indian economic history, the term 'Nishka' originally denoted a specific type of ornament in the early Vedic period, but in subsequent centuries, it evolved to signify:

💡 Solution & Explanation

In the early Vedic corpus, the term 'Nishka' designated a specific gold ornament worn around the neck, but in subsequent centuries of the later Vedic and post-Vedic periods, it transformed into a recognized metallic currency measure used for high-value commercial transactions. Alternative options concerning land revenue units or guild share certificates are not supported by numismatic or textual evidence from ancient eras. This evolution marks an important milestone in the transition from a barter economy to a coin-based monetary system in early India. A related economic development was the subsequent proliferation of punch-marked coins during the Mauryan period.