PM Modi announced ‘PM Viksit Bharat Rozgar Yojana’- ₹1 Lakh Crore Scheme

On the occasion of the 79th Independence Day, Prime Minister Shri Narendra Modi announced several major initiatives, including the Pradhan Mantri Viksit Bharat Rozgar Yojana. During his 12th Independence Day address from the Red Fort (New Delhi), the Prime Minister unveiled a ₹1 lakh crore nationwide initiative to boost employment opportunities for India’s youth. PM described this scheme as a “gift to the youth”, calling it a double Diwali celebration for young Indians.

Features of the PM Viksit Bharat Rozgar Yojana

This mission targets employees registered with the Employees’ Provident Fund Organisation (EPFO) for the first time. Eligible employees with a salary of up to ₹1 lakh. The scheme will apply to jobs created between 1 August 2025 and 31 July 2027

1. Targets

• The scheme aims to generate over 3.5 crore new jobs within two years.
• Total Investment - ₹99,446 crore
•  Beneficiaries - approximately 1.92 crore new employees

2. Financial support to the First time employees:

• Under this initiative, first-time employed youth will receive up to ₹15,000 in two installments.
  • First installment: After six months of service
  • Second installment: After twelve months of service and completion of a financial literacy program

3. Incentives for Employers

• Employers hiring new employees with salaries up to ₹1 lakh will receive incentives of up to ₹3,000 per month per new employee for at least six months, over a period of two years.
• For the manufacturing sector, these incentives will continue into the third and fourth year.
• This will encourage employers to generate around 2.60 crore additional jobs, complementing the scheme’s goal of large-scale employment generation.