Q. Which of the following funds was established in India in 1992 to provide assistance to cover the costs of retraining and redeployment of employees arising as a result of modernization, technology up gradation and industrial restructuring.?
Answer: National Renewal Fund
Notes: The Government of India had announced to establish a National Renewal Fund (NRF) as a part of the slew of measures announced in New Industrial Policy of 1991. The Fund was later established in February, 1992 for a period of 10 years. The main objective of the National Renewal Fund was to provide a social safety net to the workers who are likely to be affected by technological up-gradation and modernisation in the Indian industry