Question

What was the net result of the Great Depression of the 1930s? 

a. Population of Bombay decreased.

b. number of textile mills in Ahmedabad decreased.

c. Bombay mill owners reduced the textile workers' wages by 30-50%.

d. All of the above are correct.

1. a and c are correct
2. d is correct
3. b and c are correct
4. a and b are correct

Answer 1

Correct Answer - Option 1 : a and c are correct

The correct answer is a and c are correct.

• As the Great Depression ravaged the global economy, it became harder for Indian peasants for taking loans to plant their next harvest while the moneylenders pressured them to pay back previous debts.  
• The result was a never-ending cycle of indebtedness, with insolvency as the eventual destination.
• By 1934, 3.85 million families (77%) were in debt for more than double their annual income.
• The population of Bombay decreased due to the great depression. Hence statement a is correct.
• Bombay mill owners reduced the textile workers wages by 30 to 50 %. Hence statement c is correct.
• The number of textile mills in Ahmedabad increased.