Which of the following statements is NOT true in relation to the impact of the Great Depression of 1929 on India ?

Option 3 : The Colonial government reduced revenue demands.

The correct answer is The colonial government reduced revenue demands.

• The Great Depression was a worldwide economic depression between 1929 and 1939 that began after a major fall in stocks in the United States.
• During this period most parts of the world experienced catastrophic declines in production, employment, incomes and trade.
• The impact of the Great Depression of 1929 was:
  • India's imports and export nearly halved
  • Peasants fell into deeper debt
  • Wheat prices fell by nearly 50 per cent
  • Peasants' indebtedness increased
• Though the agricultural prices fell sharply, the colonial government refused to reduce revenue demands.

 Thus, we can say that the colonial government reducing revenue demands in not have an impact on the Great Depression of 1929 India.