The Great Depression in Urdu/Hindi

Great Depression is considered to be an era of economic downfall in the United States. Due to the Gold Standard, all the countries of the world felt the effects of the Great Depression. In 1933 the Great Depression was at its peak when the unemployment rate in the United States was 25%. The main reason for the Great Depression was the Crash of the Stock Market. Due to this on Oct 24, 1929, which is known as Black Thursday almost 12.9 million shares were traded. And on Tuesday, Oct 29, 1929, which is known as Black Tuesday almost 16 million shares were traded. The sudden set back to the United States industry also contributed to the Great Depression. The investment in the key industries became low as people draw their money back from the Banks. As a result, more than 9,000 banks failed and were not able to return the money. Overproduction of Agricultural prices also contributed to this Depression. Tariffs played a great role in the Great Depression era. During the 1930s the was a policy of Protectionists among the world states to save their domestic industry. As a result, they imposed high tariffs on foreign goods. This caused the reduction of world trade to a significant extent. The industrial production of the United States during the Great Depression fell by 47% and GDP by 30%. The economy fell from $105 Billion to $57 Billion. Family income dropped from $2300 to $1500 Dollars. There were a high suicide rate and a decrease in the divorce rate.

To end Great Depression President Franklin D. Roosevelt initiated a series of programs know as New Deal. This includes Tennessee Valley Authority Act, Glass Stegal Act, Workers Progress Administration, Civilian Conservation Corps, National Recovery Administration, Income and wealth Tax and Government Economy Act which reduced the 15% salaries of Government and Military officials and contributed to the New Deal programs. Programs after July 1935 are known as Second New Deal. Programs like Social Security Act and Agricultural Adjustment Administration are included in this series.

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