Explain three far-reaching effects of the abolition of Corn Laws.

Corn laws empowered the British Government to restrict the import of corn. But the industrialists and other urban dwellers were against it, and the government was forced to withdraw the corn laws. The abolition had its effects which are as follows:

1. It enabled in the import of food grains at a very cheaper rate.

2. Since the imports were very high, the local agriculturists could not compete with it. This was because the prices of food grains fell and the local people could not sell their produce.

3. Because of this, large areas of land remained uncultivated.

4. It led to the loss of employment of the locals, and they had to migrate to other places in search of jobs.

Thus, the abolition of Corn Laws had a far-reaching impact on the British economy,