Which one of the following is the objective of National Renewal Fund?
A
To safeguard the interests of workers who may be affected by technological upgradation of industry or closure of sick units
B
To develop the core sector of the economy
C
For the development of infrastructure such as energy, transport, communications and irrigation
D
For human resource development such as full literacy, employment, population control, housing and drinking water
Correct Answer: Option A
Explanation
1. The question asks for the primary objective of the National Renewal Fund (NRF), established in India in 1992.
2. The NRF was primarily set up to protect the interests of workers affected by industrial restructuring, including technological upgradation and the closure of sick units. It aimed to provide funds for retraining, redeployment, and compensation (Voluntary Retirement Schemes - VRS) for such workers.
3. Option (A) directly reflects this core purpose.
4. Options (B), (C), and (D) describe other general economic or social goals (developing core sector, infrastructure development, human resource development) but were not the specific, primary mandate of the NRF.