Question

ercise
3. Explain the following statements with
reasons.
(1) Farmers in India became bankrupt.​

Answer 1

Answer:

For payment of taxes , indian farmers started selling the crops at whatever price it received . The merchants and bakers started purchasing their goods at minimum rate . At certain times the farmers had to mortgage his land to the money lender for arrangement of money to pay the tax . Farmers became bankrupt

Answer 2

Answer:

Farmers took a loan from the moneylender, and the broker acted as the middleman who exploited the farmers. The farmers had to sell their products at a low price to the merchants and the middleman; they had to sell in whatever price it was demanded. The farmers had to mortgage their land when they could not pay their loan back to the moneylender. This led to a vicious cycle of taking more loans which eventually led to bankruptcy.

Explanation:

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