Choose the statement as true and false.

The jute farmers said that the main beneficiaries of the industry were traders and moneylenders, not the growers.

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Detailed Solution

The above statement is true.
The jute farmers said that the main beneficiaries of the industry were traders and moneylenders, not the growers. Raw jute was grown by Bengali villagers, treated in factories, and exported as gunny bags. They raised raw jute in the anticipation of increased opportunities and rising exports. However, due to a decline in gunny exports brought on by the downturn, this did not happen. They became heavily indebted as a result of the local market's overstock, which caused the price of raw jute to drop by more than 60%. So, rather than farmers, the main beneficiaries of jute growing were traders and moneylenders. More was lost by peasants than by city dwellers. Although agricultural prices have decreased, the government will not reduce land revenue. The hardest hit were peasants that were produced for the international market; for instance, the collapse of gunny exports caused the price of raw jute to fall by more than 60%.

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