THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Maybe so
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None of the above
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Detailed explanation-1: -The Social Security Act was signed into law by President Roosevelt on August 14, 1935. In addition to several provisions for general welfare, the new Act created a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement.
Detailed explanation-2: -Workman’s Compensation Act, 1923 was India’s first social security legislation, which came into force on July 1, 1924. Subsequently there were a number of amendments to the Act. There is a vital need for a social security scheme for organized labour.
Detailed explanation-3: -This Act provided for unemployment insurance, old-age insurance, and means-tested welfare programs. The Great Depression was clearly a catalyst for the Social Security Act of 1935, and some of its provisions-notably the means-tested programs-were intended to offer immediate relief to families.