History Ch - 8 The Making of the National Movement: 1870s-1947 — Social Studies STD 8 — Question

The First World War have the following economic impacts on India 
→ There was a huge rise in the defence expenditure of the Government of India. 
→ The government increased tax on individual incomes and business profits. 
→ There was a great demand for industrial goods due to the war and this resulted in the decline of European goods being imported into India. This in turn gave the Indian Industrialists a chance to expand their production.