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why and when did the great …

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why and when did the great depression start how india affected

    • Posted by Upendra Singh 6 years, 7 months ago

    CBSE > Class 10 > Social Science
    • 1 answers

    Sia ? 6 years, 7 months ago

    The Great Depression affected the Indian trade in many ways:

    1. The depression immediately affected Indian trade. India’s exports and imports nearly halved between 1928 and 1934. As international prices crashed, prices in India plunged. Between 1928 and 1934 wheat prices in India fell by about 50 percent.
    2. Peasants and farmers suffered more than urban dwellers. Though agricultural prices fell sharply, the colonial government refused to give any relief to the farmers in taxes. Peasants producing for the world market were the worst hit.
    3. Town-dwelling landowners and middle-class salaried employees found themselves better off as everything costs less.

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