A Colonial Economy in the Great Depression, Madras (1929-1937)

Book excerpt: This book aims to give a complete description of the impact of the Great Depression on the Madras Presidency, by using the techniques of both a historian and an economist. Manikumar's multidisciplinary approach provides a fresh perspective on the political, economic and social conditions of the Presidency in the 1930s. The major areas covered are: Madras's economy before the Depression, particularly the state of the export-dependant agricultural sector; the rise of indebtedness among the peasants; the varied effects on industrial sectors; the economic policies of the colonial government, which worsened the degree of debt; and the social and political effects of the Depression, including the Indian National Congress's increased political influence.