Explain any five consequences of the great depression of 1929 on indian economy?.........can I use this answer for this question
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Answered by
194
India was affected in the following ways:
1. Shaping of Indian politics in the 1920s,2. Agricultural prices began to fall from 19263. Demands for agricultural goods fell and exports declined,4. peasants found it difficult to sell their harvests,5. peasants found it difficult to pay their revenue,6. Country was in turmoil
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1. Shaping of Indian politics in the 1920s,2. Agricultural prices began to fall from 19263. Demands for agricultural goods fell and exports declined,4. peasants found it difficult to sell their harvests,5. peasants found it difficult to pay their revenue,6. Country was in turmoil
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97
(i) India’s exports and imports nearly halved. (ii) As international prices crashed, prices in India also plunged. (iii) Wheat prices in India fell by 50 percent. (iv) Peasants and farmers suffered more than urban dwellers. (v) The colonial government refused to reduce revenue demands. (vi) India’s peasants indebtedness increased. (vii)They used up their savings and sold jewellery and precious metals. The Great Depression helped the urban people especially the fixed income earners.
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