Question

What was the impact of Great Depression on India?​

Answer 1

: The Great Depression of 1929 had a very severe impact onIndia, which was then under the rule of the British Raj. During the period 1929–1937, exports and imports fell drastically crippling seaborne international trade. The railways and theagricultural sector were the most affected.India was an exporter of wheat to European countries. When the international prices of wheat crashed because of the Great Depression, prices of wheat in India fell almost by 50%. Peasants and farmers were the worst sufferers. While the prices of the crops declined, the government refused to reduce the revenues.

Answer 2

Answer:

The Great Depression of 1929 had a very severe impact onIndia, which was then under the rule of the British Raj. During the period 1929–1937, exports and imports fell drastically crippling seaborne international trade. The railways and the agricultural sector were the most affected.

☆As international prices crashed,prices in India also plunged. Prices of wheat and other crops were reduced. Peasants and farmers suffered a lot from this.

☆At the same time the colonial government refused to reduce revenue . This increased the burden of farmers.

☆Jute producers were hit badly because of fall in the export of gunny bags.

☆Peasants indebtedness increased. They used their savings, mortgaged lands and sold jewellery and precious metals to meet their expenses.The urban people were not that much affected by the depression as they were having fixed income, they were able to get everything.

Explanation:

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