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 goal was to protect the interests of workers who were affected by technological upgrades, the closure of sick units, or the introduction of Voluntary Retirement Schemes (VRS). The NRF had two main components. First, it provided compensation for workers taking voluntary retirement or those facing retrenchment. Second, it focused on the social safety net by providing retraining, career counselling, and redeployment services to help displaced workers find new employment in other sectors. Because the objectives included both training/counselling and the actual redeployment of the workforce, both statements 1 and 2 are correct. Therefore, the answer is B.