Theory:

     Mahmood bought a policeman in khaki with a red turban on his head and a gun on his shoulder. Mohsin bought a water-carrier while Noorey got a lawyer. Those toys cost two paisa each. Hamid had only three paisas. How could he buy such expensive toys? If they dropped out of his hand, they would be smashed to bits. If a drop of water fell on them, the colour would run. But he looked at them hungrily and wished he could hold them in his hands for just a moment or two. After the toys it was sweets. Someone bought sesame seed candy, others gulab-jamuns or halva. They smacked their lips with relish. Only Hamid was left out.
Explanation:
 
Hamid friend Mahmood bought, a policeman in khaki with a red turban and a gun. Another Mohsin bought a water-carrier, and Noorey bought a lawyer. It cost two paisa each and Hamid had only three paisas, and he cannot afford to waste it. That too toys might break if dropped or lose colour if a drop of water fell on it, but he wanted to hold them for a few minutes. Now comes the sweet shop, some bought sesame seed candy, others gulab-jamuns or halva and enjoying it, Hamid did not.
 
Meanings of difficult words:
 
Numbers
Words
Meanings
1.
Turban
A man's head covering consisting of a long length of material wound around the head.
 
Reference:
State Council of Educational Research and Training (2019). Term-1 English Standard-7. Eidgah -Story by Munshi Premchand, Translated and Adapted by Uma Raman  (pp. 01-08). Published by the Tamil Nadu Textbook and Educational Services Corporation.