Question

Great Depression in India

Answer 1

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The great of India

It was the period of 1929 where India was under the rule of British and followed in rule of severe control. How much India was affected has been hotly debated. Nationalist historians[citation needed] have argued that the Great Depression slowed long-term industrial development.[1] Outside scholars argue that depression had only a small impact in India's modern secondary sector: in terms of output, there was no depression in India between 1929 and 1934.[citation needed] However there were negative impacts on the jute industry, as world demand fell and prices plunged.

Answer 2

Answer: The great depression adversely affected the Indian economy in following ways:-

Explanation:

• The imports and exports of India nearly halved between 1928 to 1934.

• Due to overproduction of agricultural goods and reduced exports, the agricultural prices fell sharply

• British government refused to reduce the revenue demands

• Raw jute was processed in industries to make gunny bags, but as the export of gunny declines, the prices of jute crashed more than 60%

• Peasants used up their savings, sold mortgaged land, and jewelries to meet the expense