highlight the major factor about the new economic situation created by first world war in India ?
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(i)First world war led to a huge increase in defence expenditure which was financed war loans and increase in taxes. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
(ii) Custom duties were raised and new income taxes were introduced.
(iii) Through war years prices increased - doubling between 1913 and 1948.
(iv) Villagers were called upon to supply soldier.
(v) forced recruitment in rural areas caused widespread anger.
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The First World War created a new economic situation in India. 1. The huge increase in defense expenditure was financed by war loans and increasing taxes. ... Crops failed in many parts of India in 1918-19 and 1920-2, resulting in acute shortage of food.
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