Question : Statement 1: The labor force in India is predominantly engaged in the informal sector.
Statement 2: The informal sector provides better job security and social security benefits compared to the formal sector.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, statement 2 is false.
Option 4: Statement 1 is false, statement 2 is true.
Correct Answer: Statement 1 is true, statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, statement 2 is false.
Statement 1 is true. The labor force in India has a significant proportion engaged in the informal sector, which includes activities that are not regulated or protected by labor laws and lack formal social security benefits.
Statement 2 is false. Generally, the formal sector provides better job security and social security benefits compared to the informal sector. The formal sector is characterized by employment in registered and organized establishments that adhere to labor laws and regulations. These establishments often offer more stability, benefits, and legal protections to employees.
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Question : Statement 1: The Unorganised Workers' Social Security Act provides social security benefits to workers in the unorganized sector. Statement 2: The act ensures a minimum wage for all workers in India.
Question : Statement 1: The unemployment rate in India has been consistently declining over the past decade.
Statement 2: The labor force participation rate in India has been increasing steadily.
Question : Statement 1: Disguised unemployment is more prevalent in the agricultural sector compared to the industrial sector.
Statement 2: Seasonal unemployment is a significant issue in rural areas of India.
Question : Statement 1: The National Policy on Older Persons provides financial assistance to unemployed senior citizens.
Statement 2: The policy aims to improve the quality of life and social security for older persons in India.
Question : Statement 1: Labor market flexibility is essential for promoting employment growth in India.
Statement 2: Labor market flexibility refers to the ease of hiring and firing workers.
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