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Q.

Choose that given statement is true/false:

The great depression benefited the jute producers of Bengal.

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a

True

b

False

answer is B.

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Detailed Solution

The above statement is false.
The depression affected the Indian economy as well. The jute producers of Bengal were hard hit because they cultivated raw jute, which was processed later into gunny bags for the export market, but due to the depression, the export market gunny collapsed. It resulted in the fall of the price of raw jute by 60%. The farmers were in debt, but the condition of Bengal’s jute market remained constant.
The correct statement would be great depression hit the jute producer of Bengal.

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