Industrial Sector (Part – IV)

31. Match List I and List II and select the correct answer from the codes given below: [U.P.P.C.S. (Pre) 1994]

List I	List II
A. Singrauli	1. Oil
B. Kajarhat	2. Milk
C. Koyali	3. Coal
D. Anand	4. Cement

Code:

	A	B	C	D
(a)	1	2	3	4
(b)	2	3	4	1
(c)	3	4	1	2
(d)	4	3	2	1

(a)
(b)
(c)
(d)

Correct Answer: (c)

Solution:Correct matching of the lists are as follows:

List I	List II
A. Singrauli (Madhya Pradesh)	Coal
B. Kajarhat (Uttar Pradesh)	Cement
C. Koyali (Gujarat)	Oil
D. Anand (Gujarat)	Milk

32. Which one of the following is not correctly matched? [U.P.P.C.S. (Mains) 2012]

List I	List II
(a) Bio-technology Park	Lucknow
(b) Tronica City	Noida
(c) Plastic City	Kanpur
(d) Leather Technology Park	Unnao

(a)
(b)
(c)
(d)

Correct Answer: (b)

Solution:Tronica city is located in Ghaziabad not in Noida. Other Pairs are correctly matched.

33. Which of the following are the purposes to which the National Renewal Fund has been set up? [I.A.S (Pre) 1994]

1. To restructure sick small industries.

2. To help workers likely to be displaced due to retrenchment in the process of industrial restructuring.

3. To modernize exiting industrial units.

4. To help refugees from Bangladesh, Sri Lanka etc.

Choose the correct answer from the codes given below:

(a)
(b)
(c)
(d)

Correct Answer: (a)

Solution:The National Renewal Fund (NRF) was set up in February, 1992 to provide a social security net to safeguard the interest of workers who may be affected by technological upgradation, modernization and restructuring of industry or closure of sick units. NRF was set up by a government resolution which provided for its operation for a limited period of time up to a maximum of ten years. Assistance from NRF had been provided for the Voluntary Retirement Scheme (VRS) and the scheme of counseling, retraining etc. of workers rationalized from the organized sector. VRS assistance had been made available to Central Public Sector Undertakings. Under NRF, Employees Assistance Centres (EACs) had been set up to provide counseling, and retraining of workers displaced due to closure/retrenchment to facilitate their redeployment.

34. Which one of the following is the objective of National Renewal Fund? [I.A.S (Pre) 1999]

(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

Correct Answer: (a) To safeguard the interests of workers who may be affected by technological upgradation of industry or closure of sick units

Solution:The National Renewal Fund (NRF) was set up in February, 1992 to provide a social security net to safeguard the interest of workers who may be affected by technological upgradation, modernization and restructuring of industry or closure of sick units. NRF was set up by a government resolution which provided for its operation for a limited period of time up to a maximum of ten years. Assistance from NRF had been provided for the Voluntary Retirement Scheme (VRS) and the scheme of counseling, retraining etc. of workers rationalized from the organized sector. VRS assistance had been made available to Central Public Sector Undertakings. Under NRF, Employees Assistance Centres (EACs) had been set up to provide counseling, and retraining of workers displaced due to closure/retrenchment to facilitate their redeployment.

35. Consider the following statements: [I.A.S (Pre) 2002]

The objectives of the National Renewal Fund 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?

(a) Neither 1 nor 2
(b) Both 1 and 2
(c) 1 only
(d) 2 only

Correct Answer: (b) Both 1 and 2

Solution:The National Renewal Fund (NRF) was set up in February, 1992 to provide a social security net to safeguard the interest of workers who may be affected by technological upgradation, modernization and restructuring of industry or closure of sick units. NRF was set up by a government resolution which provided for its operation for a limited period of time up to a maximum of ten years. Assistance from NRF had been provided for the Voluntary Retirement Scheme (VRS) and the scheme of counseling, retraining etc. of workers rationalized from the organized sector. VRS assistance had been made available to Central Public Sector Undertakings. Under NRF, Employees Assistance Centres (EACs) had been set up to provide counseling, and retraining of workers displaced due to closure/retrenchment to facilitate their redeployment.

36. National Renewal Fund has ben established for: [U.P.P.C.S. (Mains) 2004]

(a) retraining of labour
(b) making better roads & bridges
(c) replacing old railway lines by new railway lines
(d) refinancing of loans by banks

Correct Answer: (a) retraining of labour

Solution:The National Renewal Fund (NRF) was set up in February, 1992 to provide a social security net to safeguard the interest of workers who may be affected by technological upgradation, modernization and restructuring of industry or closure of sick units. NRF was set up by a government resolution which provided for its operation for a limited period of time up to a maximum of ten years. Assistance from NRF had been provided for the Voluntary Retirement Scheme (VRS) and the scheme of counseling, retraining etc. of workers rationalized from the organized sector. VRS assistance had been made available to Central Public Sector Undertakings. Under NRF, Employees Assistance Centres (EACs) had been set up to provide counseling, and retraining of workers displaced due to closure/retrenchment to facilitate their redeployment.

37. National Renewal Fund (NRF) was constituted for the purpose of: [U.P.P.C.S. (Spl.) (Mains) 2008, U.P.P.C.S. (Pre) 2010]

(a) Providing pension for retiring employees
(b) Social security
(c) Rural reconstruction
(d) Restructuring and modernization of industries

Correct Answer: (b) Social security

Solution:The National Renewal Fund (NRF) was set up in February, 1992 to provide a social security net to safeguard the interest of workers who may be affected by technological upgradation, modernization and restructuring of industry or closure of sick units. NRF was set up by a government resolution which provided for its operation for a limited period of time up to a maximum of ten years. Assistance from NRF had been provided for the Voluntary Retirement Scheme (VRS) and the scheme of counseling, retraining etc. of workers rationalized from the organized sector. VRS assistance had been made available to Central Public Sector Undertakings. Under NRF, Employees Assistance Centres (EACs) had been set up to provide counseling, and retraining of workers displaced due to closure/retrenchment to facilitate their redeployment.

38. Which one of the following is referred to as the 'Golden Handshake': [U.P.P.C.S. (Pre) 2002, U.P.U.D.A./L.D.A. (Pre) 2002]

(a) Honouring V.I.P.'s
(b) Voluntary Retirement Scheme
(c) Wishing Bon Voyage
(d) Receiving distinguished guests

Correct Answer: (b) Voluntary Retirement Scheme

Solution:Voluntary retirement schemes (VRS) are adopted in order to reduce surplus staff. The workers, executives of compa- nies, the authority of cooperative societies, etc. can take voluntary retirement. Both public and private sector com panies can offer voluntary retirement schemes. This scheme is also known as 'Golden Handshake'. Through voluntary retirement, the employee strength is reduced so that the company can reduce the overall cost of the firm. In India, an employee must have completed 10 years of service or must be above 40 years of age to avail VRS.

39. 'Golden Handshake Scheme' in India is related with: [U.P.P.C.S. (Pre) 1992, U.P.P.C.S. (Mains) 2007]

(a) Voluntary Retirement
(b) Indian Gold Dealers
(c) Foreign Gold Dealers in India
(d) Promoting Trade In Gold

Correct Answer: (a) Voluntary Retirement

Solution:Voluntary retirement schemes (VRS) are adopted in order to reduce surplus staff. The workers, executives of compa- nies, the authority of cooperative societies, etc. can take voluntary retirement. Both public and private sector com panies can offer voluntary retirement schemes. This scheme is also known as 'Golden Handshake'. Through voluntary retirement, the employee strength is reduced so that the company can reduce the overall cost of the firm. In India, an employee must have completed 10 years of service or must be above 40 years of age to avail VRS.

40. Korean multinational company POSCO wants to invest Rs. 52,000 crore in: [R.A.S./R.T.S.(Pre) 2010]

(a) Chhattisgarh
(b) Jharkhand
(c) West Bengal
(d) Odisha

Correct Answer: (d) Odisha

Solution:POSCO, a South Korean multinational company in steel sec- tor had signed an MoU with Odisha Government on June 22, 2005 to construct a 12 billion USD steel plant near Paradip. However, various regulatory delays and controversies prevented the company from starting construction.