What was the effect the Great Depression on the Indian economy?

Asked by Last Modified  

4 Answers

+1 Class IX-X Tuition

Follow 4
Answer

Please enter your answer

Sujoy Das

JU-IITKGP & 10+ years experienced for boards, JEE,NEET,OLYMPIAD & 5-12

The Great Depression occurred in the USA in 1929 due to stock market crash there. This affected the whole world. Everywhere there was economic deflation as there was huge stocks of unsold manufactured goods which were no longer required as the World War had ended. In India the goods required for war...
read more
The Great Depression occurred in the USA in 1929 due to stock market crash there. This affected the whole world. Everywhere there was economic deflation as there was huge stocks of unsold manufactured goods which were no longer required as the World War had ended. In India the goods required for war which were made taking advantage of the cheap labor here piled up. The British had forced Indian farmers to shift to cash crops like cotton which were supplied to the mills in the UK. As a result there was less farming of rice, wheat etc and there was a crisis due to their non-availability of food grains. As their prices rose, the farmers had to sell their gold to the British at very cheap rates. This gold went to England and the British made a huge profit by selling this gold in the world market. The Indian economy was ruined by the British in this way. read less
Comments
Dislike Bookmark

illiteracy in villages. yes because India's main income depends on agriculture and agriculture related works (animal husbandry, forest, fisheries and mines). people doing these works are present more in villages, but they doesn't have correct idea about economy (like market price, subsidies etc..), so...
read more
illiteracy in villages. yes because India's main income depends on agriculture and agriculture related works (animal husbandry, forest, fisheries and mines). people doing these works are present more in villages, but they doesn't have correct idea about economy (like market price, subsidies etc..), so they depend on mediators to sell their product. these mediators cheat the farmer and get profits. If our government bring programs like benefits of farmers through TV adds, radios in local languages to get them knowledge. It leads poor will become rich. read less
Comments
Dislike Bookmark

Teacher

The Great Depression occurred in the USA in 1929 due to stock market crash there. This affected the whole world. Everywhere there was economic deflation as there was huge stocks of unsold manufactured goods which were no longer required as the World War had ended. In India the goods required for war...
read more
The Great Depression occurred in the USA in 1929 due to stock market crash there. This affected the whole world. Everywhere there was economic deflation as there was huge stocks of unsold manufactured goods which were no longer required as the World War had ended. In India the goods required for war which were made taking advantage of the cheap labor here piled up. The British had forced Indian farmers to shift to cash crops like cotton which were supplied to the mills in the UK. As a result there was less farming of rice, wheat etc and there was a crisis due to their non-availability of food grains. As their prices rose, the farmers had to sell their gold to the British at very cheap rates. This gold went to England and the British made a huge profit by selling this gold in the world market. The Indian economy was ruined by the British in this way. read less
Comments
Dislike Bookmark

Maths Tutor

The Great Depression of 1929 had a very severe impact on India, which was then under the rule of the British Raj. The Government of British India adopted a protective trade policy which, though beneficial to the United Kingdom, caused great damage to the Indian economy.
Comments
Dislike Bookmark

View 2 more Answers

Related Questions

Explain any four characteristics of Kandla sea port.
Kandla in Kuchchh was the first port developed soon after independence.The characteristics of Kandla sea port are(i) Kandla in Kuchchh was the first port developed soon after independence.(ii) It was developed...
Tarun
0 0
6
Describe the spread of Non-Cooperation Movement in the countryside.
Mohandas Karamchand Gandhi started the non-cooperation movement. The main motive of this movement was to resist the British rule in India, by a non-violent means, also called "satyagraha". This movement...
Kunal
0 0
6
What is Balance of Trade? In which situations is it favourable and unfavourable?
Difference between imports and exports is called the balance of trade. The trade is called favourable if exports exceed imports. The trade is unfavorable if imports exceed exports.
Suresh
0 0
7
Mention any two inland waterways of India. Write three characteristics of each.
Two inland waterways of India are: (i) The Brahmaputra river between Sadiya and Dhubri. (ii) The West-Coast canal in Kerala. Characteristics of Brahmaputra river between Sadiya and Dhubri are as follows: (i)...
Hari
0 0
7
Name three states having black soil and the crop which is mainly grown in it.
Maharashtra, Madhya Pradesh, Karnataka. Main crop is cotton
Sumit
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

hydroshphere
M

Mrs S.

0 0
0
What are the major issues of concern to adivasis today?
It connotes the political awareness and the assertion of rights Living in impoverished and exploited circumstances Denied access to forest and forced them to migrate in search of wage labour Government’s...

Sujoy Das

1 1
0
Federalism (Class 10, Ch. 2)
Federalism is about sharing of power between states and centre. It is one of the foundational concepts of Indian democracy. The objective of federalism:- To accommodate diversity in religion, language,...
A

Aditi

0 0
0
Competing interests do not always reflect clear class divide. Exemplify.
Operate interest on the India social scene and clamour for control of the state resources. Empowerment of the poor and the marginalized, poverty alleviation and ending of the caste. The issue of...

Sujoy Das

0 0
0
Why equatorial region is the hottest part of the Earth

Jaikumar

0 0
0

Recommended Articles

Meet Swati, a Hindi Tutor from Bangalore

Swati is a renowned Hindi tutor with 7 years of experience in teaching. She conducts classes for various students ranging from class 6- class 12 and also BA students. Having pursued her education at Madras University where she did her Masters in Hindi, Swati knows her way around students. She believes that each student...

Read full article >

Meet Sandhya R, a B.Sc tutor from Bangalore

Sandhya is a proactive educationalist. She conducts classes for CBSE, PUC, ICSE, I.B. and IGCSE. Having a 6-year experience in teaching, she connects with her students and provides tutoring as per their understanding. She mentors her students personally and strives them to achieve their goals with ease. Being an enthusiastic...

Read full article >

Meet Mohammad Wazid, a skilled trainer for...

Mohammad Wazid is a certified professional tutor for class 11 students. He has 6 years of teaching experience which he couples with an energetic attitude and a vision of making any subject easy for the students. Over the years he has developed skills with a capability of understanding the requirements of the students. This...

Read full article >

Meet Raghunandan.G.H, a B. Tech Tutor from...

Raghunandan is a passionate teacher with a decade of teaching experience. Being a skilled trainer with extensive knowledge, he provides high-quality BTech, Class 10 and Class 12 tuition classes. His methods of teaching with real-time examples makes difficult topics simple to understand. He explains every concept in-detail...

Read full article >

Find Class 10 Tuition near you
Class 10 Tuition in Delhi
Class 10 Tuition in Bangalore
Class 10 Tuition in Hyderabad
Class 10 Tuition in Kolkata
Class 10 Tuition in Chennai
Class 10 Tuition in Mumbai
Class 10 Tuition in Pune
Class 10 Tuition in Noida
Class 10 Tuition in Lucknow
Class 10 Tuition in Gurgaon
Online Tuition Class 10

Looking for Class 10 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you