Prime Minister Narendra Modi, addressing the nation from the Red Fort on the 79th Independence Day, announced the launch of the Pradhan Mantri Viksit Bharat Rojgar Yojana — a ₹1 lakh crore scheme aimed at creating employment opportunities for India’s youth.
Under the scheme, first-time employees in the private sector will receive ₹15,000 from the government as an incentive. Companies generating new jobs will also get financial incentives, though the exact amount for employers has not yet been disclosed. The initiative is expected to benefit over 3.5 crore young people across the country.
Who Can Apply?
- First-time employees joining the private sector.
- Gross monthly wage must be up to ₹1 lakh.
- The job must be in an EPFO-registered or exempted establishment.
Benefits for Employees
According to the Employees’ Provident Fund Organisation (EPFO), the scheme will:
- Encourage formal sector employment.
- Offer social security coverage.
- Promote financial literacy.
- Enhance career prospects.
How the Incentive Works
- Employees receive the incentive in two instalments:
- First instalment: Up to ₹7,500 after completing six months of employment.
- Second instalment: Remaining amount after 12 months of employment and completion of a financial literacy program.
- Incentives will be transferred directly to the employee’s bank account via the Aadhaar Bridge Payment System (ABPS).
- Employees must have their UAN authenticated through Aadhaar (biometric).
With this scheme, the government aims to provide a direct boost to youth employment, formal job creation, and long-term workforce development in India.
