Question

Impact of ww1 on Indian economy

Answer 1

Answer:

I should no effect I think so

Answer 2

Answer:

The economic impact of the First World War:

(i)The First World War led to a huge rise in the defence expenditure of the Government of India. The government in turn increased taxes on individual incomes and business profits.

(ii)Increased military expenditure and the demands for war supplies led to the sharp rise in prices which badly affected the common mass. They found it difficult to fulfil even their essential needs.

(iii)On the other hand business groups reaped fabulous profits from the war. The war created a demand for industrial goods like jute bags, cloth, rails, and caused a decline of imports from other countries into India. As a result Indian industries expanded during the war.

Explanation:

World War I, also known as the First World War or the Great War, was a global war that lasted from 28 July 1914 to 11 November 1918.

Dates: 28 Jul 1914 – 11 Nov 1918