1) At certain times the farmer had to mortgage his land to the money lender for arrangement of money to pay the tax. Hence, farmers became bankrupt. Answer 2: The British government obtained huge taxes on goods exported from India to England.
2) Import of British goods in India at very low prices and heavy duty was imposed on export of Indian handicrafts. As a result, Indian markets were full of finished goods from Britain which were of low and affordable prices. It led to the decline of Indian handicrafts both at the infernational and domestic market.
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 in whatever price it 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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1) At certain times the farmer had to mortgage his land to the money lender for arrangement of money to pay the tax. Hence, farmers became bankrupt. Answer 2: The British government obtained huge taxes on goods exported from India to England.
2) Import of British goods in India at very low prices and heavy duty was imposed on export of Indian handicrafts. As a result, Indian markets were full of finished goods from Britain which were of low and affordable prices. It led to the decline of Indian handicrafts both at the infernational and domestic market.
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Answer:
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 in whatever price it 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.