Choose whether the statement is true/false.

The Great Depression hurt the Indian economy.

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False

True

answer is A.

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Detailed Solution

The above statement is true.
Around 1929, the Great Depression started and lasted until the middle of the 1930s. The world's regions during this time had catastrophic decreases in production, employment, incomes, and trade. The Great Depression severely impacted India's agricultural sector too. The Indian economy and the world economy were intertwined. India, a former British colony, imported and exported agricultural products. Farmers' income and agricultural output decreased due to the downturn in farm prices. In addition, the government did not lower the tax simultaneously, driving farmers and landowners into bankruptcy. Thus, rural India had great economic upheaval during the Great Depression.

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