Q. Which one of the following is the objective of National Renewal Fund? (UPSC Prelims 1999)
Answer: To safeguard the interests of workers who may be affected by technological upgradation of industry or closure of sick units
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 to the workers who are likely to be affected by technological up-gradation and modernization in the Indian industry.