describe the impact of great dispersion on Indian economy
Answers
Answer:
Explanation:
The Great Depression on Indian economy occurred during 1929. This had a very strong impact when India was under the British Raj rule. ... When the International prices of wheat came down, prices of wheat in India was also affected as the prices fell down by 50%. Peasants and farmers were the most affected.
Answer:
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. While the prices of the crops declined, the government refused to reduce the revenues. This forced the peasants to borrow money from the moneylenders. At this time in India, the peasants’ indebtedness increased.