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Maharashtra State BoardSSC (English Medium) 8th Standard

Explain the following statement with a reason. Farmers in India became bankrupt. - Marathi (Second Language) [मराठी (द्वितीय भाषा)]

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Question

Explain the following statement with a reason.

Farmers in India became bankrupt.

Explain

Solution

Farmers took a loan from the moneylender, and the broker acted as the middleman who exploited the farmers. The farmers had to sell their products at a low price to the merchants and the middleman; they had to sell at whatever price was demanded. The farmers had to mortgage their land when they could not pay their loan back to the moneylender. This led to a vicious cycle of taking more loans, which eventually led to bankruptcy.

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Effect of British Rule on India
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Chapter 1.03: Effects of British rule - Exercise [Page 14]

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Balbharati History and Civics (Social Science) [English] 8 Standard Maharashtra State Board
Chapter 1.03 Effects of British rule
Exercise | Q 3.1 | Page 14
Balbharati Integrated 8 Standard Part 1 [English Medium] Maharashtra State Board
Chapter 5.3 Effects of British rule
Exercise | Q 3. (1) | Page 110
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