How had the First World War created economic problems in India explain with three examples Class 10?

How did World war 1 created economic problems in India explain with examples?

i The First World War created a new economic and political situation in India. It led to huge increase in defence expenditure which was Financed by war loans and increasing taxes custom duties were raised and income tax was introduced. ii Prices increased doubling between 1913-18. This hit the common people.

How did The First World War created economic problems in India Class 10?

1. It led to a huge increase in defence expenditure which was financed by war loans and increasing taxes, customs duties were raised and income tax was introduced. 2. Throughout the war years, the prices of things increased, doubling between 1913 and 1918 which lead to extreme hardships for the common people.

How did The First World War affect the economic condition of India?

Answer: The First World War had the following economic impact on India: (i) In order to meet a huge rise in the defence expenditure, the government increased taxes on individual incomes and business profits. … (iii) The war created a demand for industrial goods like jute bags, cloth, rail, etc.

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How did First World War create a new economic and political situation in India explain with examples?

THE First World War created a new economic and political situation : It led to a huge increase in defence expenditure which was financed by war loans. Taxes were increased, custom duties were raised and income tax was introduced.

What was the social and economic condition of India during the First World War?

(i) The First World War led to a huge rise in the defence expenditure of the Government of India. The government in turn increased taxes on individual incomes and business profits. (ii) Increased military expenditure and the demands for war supplies led to the sharp rise in prices which badly affected the common mass.

What was the impact of Great Depression in India?

(i) The impact of the Great Depression in India was felt especially in the agricultural sector. (ii) As international prices crashed, prices in India also plunged. (iii) The fall in agricultural price led to reduction of farmers’ income and agricultural export. Wheat prices in India fell by 50 percent.

How the First World War helped in the growth of the national movement in India?

The First World War had created a new economic and political situation in India. (i) It led to a huge increase in defence expenditures which was financed by war loans and increasing taxes. (ii) Custom duties were raised and Income tax was introduced. … (iii) Demand of removal of tax on salt was one among those demands.

How are the activities in the economy classified on the basis of employment conditions explain?

On the basis of employment conditions, activities in the economy are classified as organised and unorganised. The organised sector offers job security and employment benefits, while the unorganised sector is marked by low wages and lack of job security.

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What economic impact did the First World War have on India Class 8 history?

The First World War altered the economic and political situation in India. It led to a huge rise in the defence expenditure of the Government of India. The government, in turn, increased taxes on individual incomes and business profits.