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Write a Note to Explain the Effects of the Following: the Great Depression on the Indian Economy. - Social Science

Short Note

Write a note to explain the effects of the following:
The Great Depression on the Indian economy.

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Solution

The Great Depression had a major impact on the Indian economy. Between 1928 and 1934, it reduced Indian imports and exports by nearly half. Wheat prices too fell by 50% during this time. More than the urban areas, the agricultural sector (which dominated livelihoods in rural lands) was badly hit by the Great Depression.

Concept: Making of a Global World - Inter War Economy (Great Depression)
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APPEARS IN

NCERT Social Science - History India and the Contemporary World 2 Class 10 CBSE
Chapter 3 The Making of a Global World
Q 3.4 | Page 78
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