Question : The National Renewal Fund (NRF) was instituted for:
Option 1: rural reconstruction
Option 2: social security
Option 3: providing pensions for retired employees
Option 4: restructuring and modernisation of industries
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Correct Answer: social security
Solution : The correct answer is social security .
The National Renewal Fund (NRF) was set up in 1992 in India to address the employment and retraining needs arising from economic liberalisation and structural reforms. Its main goal was to assist workers facing potential job displacement due to changes in industries. It played a crucial role in lessening the social impact of economic reforms and aiding the shift towards a more competitive and open economy.
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