HISTORY
MISCELLENOUS QUESTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lack of industries
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Exported food grains a lot
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Exported the cotton and wool
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First world war
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Detailed explanation-1: -After the First World War, the economy of India underwent drastic changes. Indian industries suffered as much inconvenience as before the war. The goods were imported from Britain and Germany. Inflation occurred as a result of a short supply of goods.
Detailed explanation-2: -There was a huge rise in the defense expenditure of the Government of India. There was a sharp increase in the prices of daily commodities. The war drove the demand for industrial goods like jute bags, clothes, rails, and steel.
Detailed explanation-3: -The First World War created a situation where imports from other countries into India started reducing and there was higher demand for goods like rails, cloth, jute bags.
Detailed explanation-4: -The rate of inflation in the war was huge: prices rose on average by 100 % per year, in other words in total by a factor of 16. Nevertheless, this age was not (yet) one of hyperinflation.