New Delhi, Aug 15: Prime Minister Narendra Modi on Friday announced the launch of PM Viksit Bharat Rozgar Yojana which is expected to create 3.5 crore job in next two years.
On July 1, 2025, the Union Cabinet chaired by Prime Minister Modi had approved the scheme aimed at incentivising job creation in the country.
“Today is August 15 and we are launching Rs 1 lakh crore scheme for the youth of this country. It is good news for you that PM Viksit Bharat Rozgar Yojana is being rolled out from Today,” Modi said in his Independence Day speech.
He said that under this scheme the youth getting first job in the private sector will get Rs 15,000 and the companies (employing them) will get incentive amounts.
PM Viksit Bharat Rozgar Yojana will provide employment opportunities to 3.5 cr youths.
With an outlay of Rs 99,446 crore, the PM Viksit Bharat Rozgar Yojana (PMVBRY) aims to incentivise the creation of more than 3.5 crore jobs over two years. Of these, 1.92 crore beneficiaries will be first timers, entering the workforce.
The benefits of the scheme would be applicable to jobs created between August 1, 2025, and July 31, 2027.
The name of the scheme is in alignment with the scheme’s overall objectives towards the Viksit Bharat initiative and reflects the government’s commitment to generating inclusive and sustainable employment opportunities in the country.
The scheme, which incentivises employers to create new employment, will provide benefits for the generation of new jobs across various sectors with special focus on the manufacturing sector.
The scheme consists of two parts, with Part A focused on first timers and Part B focused on employers.
Targeting first-time employees registered with retirement fund body EPFO, Part-A will ensure one-month EPF wages up to Rs 15,000 in two installments. Employees with salaries up to Rs 1 lakh will be eligible.
The 1st installment will be payable after 6 months of service and the 2nd installment after 12 months of service and completion of a financial literacy programme by the employee.
To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument or deposit account for a fixed period and can be withdrawn by the employee at a later date.
The employers will get incentives in respect of employees with salaries up to Rs 1 lakh.
The government will incentivise employers, up to Rs 3000 per month, for two years, for each additional employee with sustained employment for at least six months. For the employers of the manufacturing sector, incentives will be extended to the 3rd and 4th years as well.
Establishments, which are registered with EPFO, will be required to hire at least two additional employees (in case of employers with less than 50 employees) or five additional employees (in case of employers with 50 or more employees), on a sustained basis for at least six months.
All payments to the First Time Employees under Part A of the Scheme will be made through DBT (Direct Benefit Transfer) mode using the Aadhar Bridge Payment System (ABPS).
Payments to the employers under Part B will be made directly into their PAN-linked bank accounts.(PTI)
