India felt an impact of the worldwide economic depression in the late[[1]].

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

India felt an impact of the worldwide economic depression in the late 1920.
During the late 1920s, the planet went through an economic depression. India was well connected with other countries due to its intensive trade practices. However, India's trade was adversely affected as international rates crashed and exports decreased. Hence, the Depression had swayed in India too. From 1926, agricultural prices began to fall, leading to the decline of exports, and farmers could not sell in open markets. Thus, the demand for farm products also declined. Moreover, the peasants found dealing with their harvests and paying their revenue difficult. However, the British government raised taxes that worsened the state of affairs.

Watch 3-min video & get full concept clarity