Quick Answer: What economic impact did the First World War have on India?

(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 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.

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What was the impact of the First World War on the economic condition in India Class 10?

iii) The war increased demand for industrial goods such as jute bags, fabric, and rail, and reduced imports into India from other countries. iv) During the war, Indian factories grew, and Indian business groups began to demand more growth opportunities. v) The war brought massive profits to business organizations.

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.

How did the first world war affect the economic conditions of India Class 8?

Answer. 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. … Increased military expenditure and the demands for war supplies led to a sharp rise in prices, which created great difficulties for the common people.

What are the impacts of first world war?

The First World War destroyed empires, created numerous new nation-states, encouraged independence movements in Europe’s colonies, forced the United States to become a world power and led directly to Soviet communism and the rise of Hitler.

Which one of the following is not true regarding the impact of the First World War on India?

Which of the following is not true regarding the impact of the First World War? Defence expenditure resulted in increased taxes. Forced recruitment of soldiers was introduced in the villages. Income tax was introduced and custom duties increased.

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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 first world war on the world economy?

The heavy reparations, combined with the devastated economic infrastructure throughout Germany and political tension under the Weimar Republic, led to an economic depression. Hyperinflation and unemployment in Weimar Germany were staggering.

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.

What was the impact of first world war on Russia Class 9?

The First World War badly hit the Russian industries. Russia’s own industries were few in number and the country was cut off from other suppliers of industrial goods by German control of the Baltic sea. Industrial equipment disintegrated more rapidly in Russia than elsewhere in Europe.

What was the impact of First World war on Russian economy?

By mid-1916, two years of war had decimated the Russian economy. It triggered downturns in agrarian production, triggered problems in the transportation network, fuelled currency inflation and created critical food and fuel shortages in the cities.

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