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It is because of inability of $ns^2$ electrons of the valence shell to participate in bonding that
Explanation
Inert pair effect stabilises Pb(II) and makes Sn(II) reducing.
Detailed Solution
Inability of $ns^2$ electrons of the valence shell to participate in bonding on moving down the group in heavier p-block elements is called the inert pair effect.
As a result, Pb(II) is more stable than Pb(IV) and Sn(IV) is more stable than Sn(II).
$\therefore$ Pb(IV) is easily reduced to Pb(II), so Pb(IV) is an oxidising agent.
Sn(II) is easily oxidised to Sn(IV), so Sn(II) is a reducing agent.
