With reference to the passage, which of the following inferences can be drawn? 1. Demographic dividend is an essential condition for a country to rapidly increase its economic growth rate. 2. Promotion of higher education is an essential condition for a country for its rapid economic growth. Select the correct answer using the code given below.

Passage

The demographic dividend, which has begun in India and is expected to last another few decades, is a great window of opportunity. The demographic dividend is basically a swelling in the working age population, which conversely means that the relative ratio of very young and very old will, for a while, be on the decline. From the experience of Ireland and China, we know that this can be a source of energy and an engine of economic growth. The demographic dividend tends to raise a nation's savings rate since in any nation, it is the working age population that is the main saver. And since the savings rate is an important driver of growth, this should help elevate our growth rate. However, the benefits of demographic dividend depend on the quality of the working age population. And this implies bringing back the importance of education, acquisition of skills and human capital.

Question

CSATEasyPrelims 2022Comprehension

With reference to the passage, which of the following inferences can be drawn?

Demographic dividend is an essential condition for a country to rapidly increase its economic growth rate.
Promotion of higher education is an essential condition for a country for its rapid economic growth.

Select the correct answer using the code given below.

Explanation

Statement 1 is incorrect: While the passage suggests that a demographic dividend can be a "great window of opportunity" and an "engine of economic growth," it does not state that it is an essential condition for rapid economic growth. Economic growth can be achieved through various other factors, such as technological innovation, infrastructure development, and effective governance. Therefore, statement 1 cannot be inferred as a necessity.

Statement 2 is incorrect: The passage emphasizes the importance of education, skill acquisition, and human capital for reaping the benefits of a demographic dividend. However, it does not suggest that promoting higher education is an essential condition for rapid economic growth in general. Growth can occur through various educational and skill levels, and higher education, while valuable, is not described as an absolute requirement for economic advancement.