What was the impact of first world war in India?
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(i) The war created a new economic and political situation. (ii) It led to huge increase in defence expenditure which was financed by war loans and increasing taxes, custom duties were raised and income tax was introduced. (iii) Prices increased, doubling between 1913 and 1918.(iv)The crop failure in 1918-19 and 1920-21 resulted in acute shortage of food.
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Answer: The war created a new economic and political situation. (ii) It led to huge increase in defence expenditure which was financed by war loans and increasing taxes, custom duties were raised and income tax was introduced. (iii) Prices increased, doubling between 1913 and 1918. This hit the common people.
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