Question

write a short note on the great depression on the indian economy.plzzzzzzzzzzz send this answer quickly....

Answer 1

1. The economy depression immediately affected Indian Trade, as India’s exports and
imports nearly halved between 1928-1934
2. Agriculture prices fell sharply, but the colonial government refused to reduce revenues.
Peasants producing for the world markets were worst hit.
3. Raw jute was produced, processed in the industries to make gunny bags. Its exports
collapsed and prices fell by 60% peasants of Bengal fell into debt traps.
4. Peasants used up their savings mortgaged lands and sold their precious jewelry
to meet their expanses.

Answer 2

The Great Depression in India began in the year 1929. The depression immediately affected the trade of India. For instance, the exports and imports of India reduced to nearly halved between the years 1928 and 1934. India was a great producer of wheat and thus an exporter of wheat but due to the Great Depression, the prices of wheat fell down by about 50%. The quick fall in the prices badly affected farmers. Moreover, the colonial government did not make any attempt to provide relief to the poor peasants. Though the depression proved less severe for urban Indians, as most of them were the people who had fixed salaries.