Question

explain the impact of Great Depression on the Indian economy

Answer 1

The Great Depression of 1929 had a very severe impact onIndia, which was then under the rule of the British Raj. The Government of British Indiaadopted a protective trade policy which, though beneficial to the United Kingdom, caused greatdamage to the Indian economy

Answer 2

1. exports halved....wheat prices halved between the period
2. peasants were not benefited ...though there there was decrease in prices landlords did not decrease the revenues
3. to pay revenues peasants started selling their gold and other previous jewellery .....so India became an export of previous metals
4.even jute producers were worst hit...increase in production of jute and decrease in export of funny bags was a problem.
5. urban dwellers who got fixed salaries got benefited as the prices decreased ...and even Indian industries started to come up in cities




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