Explain the importance of socialism in …

Effects of socialism on Nationalist movement in India are as follows:-

• There was witnessed a substantial growth within the congress for socialist ideas in 1930s. This led to the greatest economic depression. Later on this also spread to a vast region in the country.
• It further led to more number of unemployment within the mass scale. The depression era further managed to affect the capitalist system forcing Marxism, economic planning and socialism to flourish. The ideas were more of interest to peasants, youth workers and younger generations.
• The wages for workers were further reduced by the employers. More number of peasants demanded for more land forms, lower rent and land revenue. They also demanded relief from all their past indebtedness.
• Factory and plantation workers further demanded much better working conditions and wages by formation of trade unions. 
• Later in 1936 it led to the formation of All India Farmers Union and forced more number of peasants to participate in the national movements.