Write a note to explain the effects of the following: The Great Depression on the Indian economy...
0Write a note to explain the effects of the following:
The Great Depression on the Indian economy.
* Great Depression badly affected Indias trade which was reduied to nearly half between 1928 to 1934 .
* when global prices crashed, prices in India also reduced
significatty. wheat prices in India fell by \( 50 \% \) between 1928 to 1934 .
* Peasants and farmers in rural areas suffered more than urban
people as the colonial government refused to reduce the revenue demands
* Rawjute prices also erashed more than \( 60 \% \) redacing the export of gunny bags which created greater problems for the jute producers in Bengal.
H * Peasants indebtedness increased, they mortgaged
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