How has globalization benefitted India? Explain with five examples.(All India - 2013)
Answers
Answer:
For the past few decades, technological advances have not only permitted an easier communication and interaction among countries, but also an increase in the economic and cultural exchanges across national boundaries. All of these factors put together are called globalization. Globalization has improved the development of many countries, including India, by creating economic interdependence among them. In fact, globalization has been very beneficial to India and hence has improved the country’s economic development. This article will discuss how globalization has benefited India economically and will address the issues of employment, class mobility, and education.
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Answer:
Ans. Three points on the First World War's impact on
the economic situation in India are given below:
(i) It led to a huge rise in the defence expenditure of
the Government of India.
(ii) Custom duties were increased and income tax
was introduced
(iii) The prices of the goods doubled between 1913-
1918 and created hardships for the people.
(iv) Forced recruitment was carried out and men
from the villages were forced to become soldiers.
(v) It created a demand for industrial goods (jute
bags, cloth, rails, etc.) and caused a decline of
imports from other countries into India.