Option 1: Gopal Krishna Gokhale - Not the correct answer. Gokhale was one of the prominent leaders of the Indian National Congress and played a crucial role in the Indian independence movement. However, he did not propound the theory of `Drain of wealth.`

Option 2: Dadabhai Naoroji - Correct answer. Dadabhai Naoroji, also known as the "Grand Old Man of India," was a prominent Indian political leader and economist. He was the first to quantify and popularize the concept of `Drain of wealth` from India to Great Britain. Naoroji argued that India`s wealth was being drained to Britain through economic exploitation, primarily in the form of high taxes and trade imbalances.

Option 3: Surendranath Banerjee - Not the correct answer. Banerjee was another important figure in the Indian independence movement but did not propound the theory of `Drain of wealth.`

Option 4: Lala Lajpat Rai - Not the correct answer. Lala Lajpat Rai was a freedom fighter and played a significant role in the Indian independence movement, but he did not propose the theory of `Drain of wealth.`