(a) (i) Define worker – population ratio and describe its usefulness. (ii) State the meaning of ‘Disguised Unemployment’.

Worker Population Ratio is defined as the total number of workers in a country divided by population. It is represented in percentage.

Worker Population Ratio is an indicator which is used for analysing the employment situation in the country. This ratio is useful in knowing the proportion of population that is actively contributing to the production of goods and services of a country. Higher the worker population ratio, higher the engagement of people in economic activities and vice versa.

Disguised unemployment refers to a situation when the person seems to be employed but is not contributing to the output i.e., the marginal productivity of labour is zero.

True. The Government of India has implemented schemes like Jan-Dhan Yojana, which has promoted thrift habits and efficient allocation of financial resources. The formal banking system has been benefitted by mobilization of a substantial amount under this yojana.

True. Cooperatives play a pivotal role in the availability of credit in rural India. They offer accessible financial services to farmers, small businesses, and individuals, bridging gaps left by formal banking institutions. With lower transaction costs, resource pooling and risk-sharing, they provide vital credit support, empowering rural communities and fostering economic growth.