Choose given statement is true/false:

The income of the peasants had increased due to the Great Depression of 1929.

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True

False

answer is B.

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Detailed Solution

The above statement is False.
Colonial India imported manufactured items in the nineteenth century and exported agricultural products. As international prices fell, so did prices in India. India saw a 50% decline in wheat prices between 1928 and 1934. India's exports and imports fell by nearly half between 1928 and 1934. Despite a dramatic drop in agricultural prices, the British colonial government stubbornly refused to lower its revenue demands. Peasants in India who produced items for the global market took the brunt of the Great Depression's effects. The worst affected peasants were those who had taken out additional loans in an effort to increase their income and output. As prices kept dropping, they started getting further into debt. Across India, peasants' debt levels rose.
The correct statement would be the income of the peasants had declined due to the Great Depression of 1929.

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