Correct Answer: Statement 1 is true, and Statement 2 is true.

Solution : The correct answer is (a) Statement 1 is true, and Statement 2 is true.

Statement 1 is true. Social protection measures, such as safety nets, social assistance programs, and insurance schemes, play a crucial role in alleviating poverty and protecting vulnerable populations. Inadequate or insufficient social protection measures can leave individuals and communities more susceptible to poverty, as they lack the necessary support and resources to cope with shocks and risks.

Statement 2 is also true. Social protection programs provide financial and non-financial support to individuals and households, aiming to reduce poverty,
inequality, and vulnerability. Programs such as pensions ensure income security for the elderly, healthcare subsidies improve access to medical services, and education subsidies promote educational opportunities. These measures contribute to poverty reduction by addressing key areas of need and supporting individuals in improving their well-being and socio-economic conditions.