How did the commercialization of agriculture under British rule exacerbate rural indebtedness in India during the late 19th and early 20th centuries?
1
The focus on cash crops like indigo and cotton allowed peasants to earn more profits, which they reinvested into local banks, eventually leading to economic prosperity.
2
Peasants were forced to grow cash crops at the expense of subsistence farming, resulting in food shortages and an increased reliance on moneylenders to meet basic needs.
3
The commercialization of agriculture led to widespread peasant ownership of land, which allowed them to pay off debts more easily.
4
Commercialization reduced the dependence on moneylenders as British banks provided easy loans to the peasantry at lower interest rates.