Question

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 the elderly has disappeared. And a State faced with a financial crunch is not in a position to provide social security. So, it is advisable that the working population give 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?

• A. The investible income of the working population, as a proportion of its total income, will grow in the future.
• B. The insurance sector is underdeveloped and trends indicate that it will be extensively privatized in the future.
• C. India is on a path of development that will take it to a developed country status, with all its positive and negative implications.
• D. If the working population builds a stronger financial base, there will be a revival of the joint family system.

Hint:

Consider how external factors like cultural changes or social systems can impact financial planning and the need for social security.

Answer 1

The Correct Option is D

The Correct Answer is (4). If the joint family system is revived, the need for a financial base for individual working members may diminish, weakening the conclusion drawn in the passage.