PM Modi launches Rs 1 lakh crore Pradhan Mantri Viksit Bharat Rozgar Yojana, to create 3.5 crore jobs
'There is big news for the youth of the country,' PM Modi declared from the Red Fort. 'On this day, we are starting and implementing a scheme of Rs 1 lakh crore for the youth of my country,' he said.
The scheme, effective from August 15, is designed to incentivise both first-time employees and private sector employers.
Under the initiative, any young person securing their first job in the private sector will receive Rs 15,000 directly from the government. 'The son or daughter who gets their first job will be given Rs 15,000 by the government,' PM Modi announced, emphasising the scheme's role in easing the transition into formal employment.
To further stimulate job creation, companies that generate sustained employment will be rewarded with financial incentives.
Employers hiring additional staff will be eligible for up to Rs 3,000 per month per new employee, with extended benefits for the manufacturing sector.
The scheme is expected to create approximately 3.5 crore new jobs over the next two years, with 1.92 crore beneficiaries entering the workforce for the first time.
The Ministry of Labour & Employment, in collaboration with the Employees' Provident Fund Organisation (EPFO), will oversee implementation.
PM Modi framed the initiative as a cornerstone of the Viksit Bharat mission, aimed at building a developed and inclusive India by 2047.
'This is my gift to the youth -- a double Diwali celebration,' he said, promising economic empowerment and national progress.
With its dual focus on youth and enterprise, the Viksit Bharat Rozgar Yojana marks one of the most ambitious employment-linked reforms in recent years.
As registration opens, millions of young Indians and businesses are expected to benefit from this transformative push toward job-led development.
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