Question : Assertion: The informal sector plays a significant role in generating employment in India.
Reason: The informal sector encompasses organized economic activities that provide income and livelihood opportunities.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
Correct Answer: Assertion is true, but the reason is false.
Solution : The correct answer is (c) Assertion is true, but the reason is false.
The informal sector in India is a large and growing part of the economy, employing over $90 \%$ of the workforce. It is characterized by small, unregistered businesses that operate outside of the formal regulatory framework. While the informal sector does play a significant role in generating employment, the reason given in the prompt is not the correct explanation. The informal sector does not encompass organized economic activities. In fact, the informal sector is often characterized by unorganized and unregulated work.
The reason given in the prompt is false because it implies that the informal sector is a formal part of the economy. This is not the case. The informal sector is a separate and distinct part of the economy that is characterized by its lack of regulation.
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Reason: MGNREGA aims to provide livelihood security and create durable assets in rural India.
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Reason: India has witnessed significant growth in sectors such as IT, telecommunications, banking, tourism, and healthcare.
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Reason: PMEGP provides financial assistance and support to start-ups and micro-enterprises.
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Reason: India initiated economic reforms in 1991.
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