Consider the following statements: The objectives of the National Renewal Funds set up in February 1992 were 1. to give training and counselling for workers affected by retrenchment or VRS. 2. redeployment of workers Which of these statements is/are corre

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Q: 50 (IAS/2002)
Consider the following statements: The objectives of the National Renewal Funds set up in February 1992 were
1. to give training and counselling for workers affected by retrenchment or VRS.
2. redeployment of workers
Which of these statements is/are correct?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,46,9,6,46,3,0

keywords: 

{'national renewal funds': [0, 0, 2, 0], 'redeployment': [0, 0, 2, 0], 'retrenchment': [0, 1, 2, 0], 'objectives': [2, 1, 4, 11], 'counselling': [0, 0, 2, 0], 'workers': [2, 1, 6, 18]}

The National Renewal Fund (NRF) established in February 1992, had two key objectives. The first one was to provide training and counseling to workers who were impacted by layoffs or voluntary retirement schemes (VRS). Such interventions are designed to help these workers adapt to the changing economic landscape and find new opportunities. This is directly addressed in statement 1.

The second objective of NRF was the reemployment or redeployment of workers. This recognized the need to help workers transition from declining sectors to growing ones, or from unviable units to more viable ones. Hence, the statement 2 is accurate too.

Therefore, looking at each option, option-1 and option-3 neglect the second objective, relegating them as incorrect. Option-4 eliminates first objective and therefore it`s incorrect too. The only option covering both objectives is option-2, which matches with the provided correct answer. Hence, `Both 1 and 2` is the correct answer to this question.