who profits from jute cultivation according to the jute growers lament ? explain
Answers
(i) It was evident that Indian economy was closely becoming integrated to global economy. India was a British colony and it exported agricultural goods and imported manufactured goods. The depression affected the Indian trade as India’s exports and imports declined extensively between 1928 and 1934. As international prices fell,
prices in India also fell.
(ii) The jute growers of Bengal lamented that the traders sitting at home benefitted from growing jute while the peasants suffered from rising cost of production and debts. Despite the falling prices of agricultural goods, the colonial power refused to reduce the revenue demands in cash. Peasants and farmers involved in cash crops were worst hit.
(iii) The urban salaried class and the landlords benefitted from the falling prices of agricultural products and the value of rent increased. Large scale migration from villages to towns and cities also affected the urban life-styles
Answer:
The impact of the Great Depression in India was felt especially in the agricultural sector.
(i) It was evident that Indian economy was closely becoming integrated to global economy. India was a British colony and it exported agricultural goods and imported manufactured goods. The depression affected the Indian trade as India’s exports and imports declined extensively between 1928 and 1934. As international prices fell,
prices in India also fell.
(ii) The jute growers of Bengal lamented that the traders sitting at home benefitted from growing jute while the peasants suffered from rising cost of production and debts. Despite the falling prices of agricultural goods, the colonial power refused to reduce the revenue demands in cash. Peasants and farmers involved in cash crops were worst hit.
(iii) The urban salaried class and the landlords benefitted from the falling prices of agricultural products and the value of rent increased. Large scale migration from villages to towns and cities also affected the urban life-styles