what economic impact did the first world war have on India
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A group of entrepreneurs who bagged war supply contracts, however, made windfall profits in a short time.Large numbers of able-bodied young men from the countryside were recruited into the British army. Such induction of Indians disrupted social life in rural areas. Villages experienced shortage of farm hands, carpenters, blacksmiths and other such artisans.Most importantly, as war-time expenditure sky-rocketed, the colonial government diverted a good part of its revenue receipts from India to the war budget
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The First World War hugely impacted the economic situation in India. As a result of the war, the defence expenditures of the Government of India rose. The government increased taxes on individual incomes and business profits to meet the war expenses. Many goods and articles began to supplied to the war zones which led to acute rise in prices of the commodities. This created many difficulties for the common people.
The First World War led to the rise and the expansion of the Indian industries. Since the British industries began to export goods to the war zone in order to meet daily requirements of the troops (jute bags, clothes etc) and materials to improve infrastructure, the Indian industries began to manufacture goods and articles for the Indian markets. It also began to supply goods for the war needs. Thus, Indian industries reaped good profits during the war.
The First World War led to the rise and the expansion of the Indian industries. Since the British industries began to export goods to the war zone in order to meet daily requirements of the troops (jute bags, clothes etc) and materials to improve infrastructure, the Indian industries began to manufacture goods and articles for the Indian markets. It also began to supply goods for the war needs. Thus, Indian industries reaped good profits during the war.
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