Multiple choice

Developed countries have made adequate provisions for social security for senior citizens. State insurers (as well as private ones) offer medicare and pension benefits to people who can no longer earn. In India, with the collapse of the joint family system, the traditional shelter of family is not in a position to provide social security. So, it is advisable that the working population gives serious thought to building a financial base for itself.

Which one of the following, if it were to happen, weakens the conclusion drawn in the above passage the most?

  1. The investible income of the working population, as a proportion of its total income, will grow in the future.

  2. The insurance sector is underdeveloped and trends indicate that it will be extensively privatised in the future.

  3. India is on a path of development that will take it to the status of a developed country, with all its positive and negative implications.

  4. If the working population builds a stronger financial base, there will be a revival of the joint family system.

  5. Although the joint family system is on the decline, the value systems in India do not permit total abandonment of our elders, as is the case in certain developed countries.

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

 If India were to become a developed country in foreseeable future, the social security system will be put in place automatically as stated in (3).