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Question
Write a note to explain the effects of the following:
The Great Depression on the Indian economy.
Short/Brief Note
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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.
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The Inter-war Economy
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