Read the following statements carefully and choose the correct option regarding Assertion (A) and Reason (R). Assertion (A): Globalization led to increased inequality in India. Reason (R): Growth was unevenly distributed, benefiting mostly urban elite and service sectors.
Both A and R are true and R is the correct explanation of A.
Assertion (A) is TRUE — Globalisation did lead to increased economic inequality in India, with the rich-poor gap widening.
Reason (R) is TRUE and is the correct explanation — the gains from globalisation were concentrated among urban elites, IT/service sector professionals, and large corporations, while rural populations and unorganised labour benefited comparatively less. This uneven distribution directly explains the rise in inequality.
Hence Both A and R are true, and R is the correct explanation of A.
The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function.
Which of the following comes under the Quarternary sector?
Private ownership of the means of production is a feature of a _______ economy.
In ________ economies, all productive resources are owned and controlled by the government.
The consumption of fixed capital is also known as _________.
Fisher’s quantity theory is explained by his famous equation given as ________.
Machines, tools and Implements, and buildings are examples of which type of goods?
When did the first 5 year plan start?
In which union budget was India's first sovereign wealth fund named 'National Investment and Infrastructure Fund (NIIF)' announced?
The national poverty line for 2011-12 was estimated at _________ per capita per month for urban areas of India.
When goods are produced by exploiting natural resources, it is an activity associated with:
A system in which local farmers were allowed to cultivate temporarily within a plantation is known as:
Which goods from India dominated the international textile markets before the age of mechanized industries?
Which type of farming is practiced in areas of high population pressure on land?
The major economic attribute for comparing countries is their: