Question

Describe the impact of the first world war on indian economy?

Answer 1

As war expenditure increased the British increased taxes in India. This had a negative impact on the Indian economy. Prices of essential goods increased,there was shortage of food, inflation and unemployment reached unprecedented levels.

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Answer 2

HEY THERE !!!

Here is your answer...

The Economic Impact of World War I

Let's look at the economic impact of World War I. Unlike in some European countries, the United States was not laid to waste by war. America's factories and countrysides were unharmed, and performing better than ever. World War I sped up American industrial production, leading to an economic boom throughout the 'Roaring Twenties.'

While the war was a devastating experience for France and the United Kingdom, these countries were able to recover economically without too much difficulty. It was Germany, however, that particularly suffered following the war. Under the Treaty of Versailles, Germany was required to make monetary payments to the Allies, called reparations. The heavy reparations, combined with the devastated economic infrastructure throughout Germany and political tension under the Weimar Republic, led to an economic depression.

Hyperinflation and unemployment in Weimar Germany were staggering. Reichsmarks, the German currency, became so devalued, that it took wheelbarrows full of money to buy basic items, such as a loaf of bread. One famous photograph shows children flying a kite made out of reichsmarks sewn together.

In the mid to late 1920′s, the German economy stabilized somewhat, but after the American stock market crash in 1929, the Great Depression spread to Germany. From 1929 into the early 1930′s, depression again wreaked havoc on German society. It was under these conditions that the Nazis were able to come to power.

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