Question

Which of the following statements is/are incorrect?

1. In India, there exists vast inequalities in the distribution of income and wealth.
2. In India, every year a large number of people are added to the labour force due increase in population.

Options

• Only (I)

• Only (II)

• Both (I) and (II)

• None of these

Answer 1

None of these

Explanation:

1. In India, there exist vast inequalities in the distribution of income and wealth. This inequality is a significant characteristic of the Indian economy and a key reason behind poverty in the country.
2. Every year, a large number of people enter the labour force due to population growth. India’s population growth increases the size of the labour force annually.
3. Thus, both statements are correct.