What economic impact did the First World War have on India in short points?

What economic impact did the First World War have on India 5 points?

(iii) The war created a demand for industrial goods like jute bags, cloth, rail, etc. and caused a decline of imports from other countries into India. (iv) Indian industries expanded during the war and Indian business groups began to demand greater opportunities for development.

What was the impact of 1st world war on India?

(i) The war created a new economic and political situation. (ii) 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. (iii) Prices increased, doubling between 1913 and 1918. This hit the common people.

How did First World war affect the Indian economy 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.

THIS IS FUN:  Can Indian lawyers practice in Canada?

How had First World war created economic problems in India?

First World War created economic problems in India:

  • It led to a huge increase on defence expenditure.
  • Taxes were increased.
  • Custom duties were raised.
  • Income Tax was introduced.
  • Forced recruitment in Army from rural areas.
  • The failure of crops in many parts of India.
  • Prices of consumer goods almost doubled from 1913-1918.

What were the economic impact of NCM?

The effects of non-cooperation on the economic front were more dramatised. Foreign goods were boycotted and eliminated from the markets. Liquor shops were picketed and foreign cloth was burnt in large bonfires. The import of foreign cloth reduced to half between 1921 and 1922.

What was the impact of the First World War on the national movement in India Class 10?

How the First World War helped in the growth of the National Movement in India. Answer: War created a new political and economic situation. Led to a huge increase in defence expenditure which was financed by war loans and increasing taxes: custom duties were increased and income tax introduced.

How did WWI alter the relationship between India and Britain?

At the start of World War 1, Britain controlled India as part of the British Empire. Most of the people of India wanted independence, and protests toward this end had already gone on for awhile, but so far the British government had contained the protests and maintained their hold on India.

What is the impact of industrialization on Indian economy explain it?

Rapid industrial growth has resulted in the expansion of infrastructural facilities. The development of modern industries has stimulated the growth of banking, insurance, commerce, shipping, air services etc.

THIS IS FUN:  Is AppLock safe in India?

What was an economic effect of World war II answers?

American factories were retooled to produce goods to support the war effort and almost overnight the unemployment rate dropped to around 10%. As more men were sent away to fight, women were hired to take over their positions on the assembly lines.