AI-generated practice question — model-generated for extra practice, not a previous-year CBSE board question.
Peasants suffered greatly — agricultural prices fell sharply (wheat by 50%), yet the colonial government did not reduce revenue demands. Peasants fell deeper into debt and were forced to mortgage land and sell gold.
Urban salaried workers, however, were better off. Their fixed incomes remained the same while falling prices meant everything cost less, raising their real purchasing power.
Reason for difference: Peasants' income depended directly on falling market prices, while salaried employees' income was fixed and unaffected by price crashes.
Source: Chapter 3, Section 3.5 – India and the Great Depression
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