Question

consequence of great deprassion of 1929 on indian economy

Answer 1

The Great Depression began in 1929. India was an exporter of wheat to European countries. When the international prices of wheat crashed because of the Great Depression, prices of wheat in India fell almost by 50%. Peasants and farmers were the worst sufferers.

The Government of British India adopted a protective trade policy which, though beneficial to the United Kingdom, caused great damage to the Indian economy. During the period 1929–1937, exports and imports fell drastically crippling seaborne international trade.