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?

The National Renewal Fund (NRF) was established by the Government of India in 1992 as a safety net for workers during the period of economic liberalization and industrial restructuring. Its primary objectives were to protect the interests of workers affected by technological upgrades, plant closures, or the rationalization of public sector enterprises.

Statement 1 is correct because the NRF was designed to provide assistance for the retraining and counseling of workers who were displaced due to retrenchment or those who opted for the Voluntary Retirement Scheme (VRS).

Statement 2 is correct because a core goal of the fund was the redeployment of these workers into alternative employment opportunities to ensure they remained productive members of the workforce.

Since both objectives were central to the mandate of the NRF, Option B is the correct answer.