New Delhi: On India’s 79th Independence Day, Prime Minister Shri Narendra Modi, addressing the nation from Red Fort for the 12th time, unveiled the Pradhan Mantri Viksit Bharat Rozgar Yojana—a game-changing employment initiative designed to empower youth, spur job creation, and propel India’s transformation from Swatantra Bharat to Samriddha Bharat. With a financial outlay of nearly ₹1 lakh crore and an ambitious target to create over 3.5 crore jobs in two years, this scheme aims to strengthen India’s workforce and deepen the bridge to a prosperous future.
Key Features of the Scheme
Part A – Direct Support to First-Time Employees
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Eligibility: First-time employees registered with EPFO (Employees’ Provident Fund Organization) and salary up to ₹1 lakh.
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Incentive: Up to ₹15,000 (in two instalments) as an EPF wage incentive:
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1st instalment: After 6 months of continuous service.
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2nd instalment: After 12 months AND completion of a financial literacy programme.
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Promoting Saving: Part of the incentive will be kept in a savings instrument/deposit account, withdrawable after a fixed period.
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Estimated Beneficiaries: Around 1.92 crore youth entering employment for the first time.
Part B – Incentives for Employers to Drive Job Creation
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Scope: Incentivizes all sectors, with a special push for manufacturing.
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Incentive: Up to ₹3,000 per month per new employee (with salary up to ₹1 lakh), sustained for at least six months.
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Duration: 2 years for all sectors; extends to 3rd and 4th year in manufacturing.
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Goal: Incentivize employers to generate approximately 2.60 crore additional jobs.
Payment Mechanism and Formalization
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For Employees (Part A): Direct Benefit Transfer (DBT) via Aadhaar Bridge Payment System (ABPS).
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For Employers (Part B): Payment directly into PAN-linked accounts.
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The scheme supports formalization by expanding social security to crores of young workers, reinforcing the country’s formal workforce.
Strategic Impact
Prime Minister Modi described this as a landmark step to connect youth aspirations with national prosperity:
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Youth Engagement: Provides immediate and tangible financial benefits for first-time jobseekers, assisting with savings and workforce integration.
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Employer Incentive: Reduces hiring costs, especially in manufacturing, and rewards sustained job creation.
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Manufacturing Boost: Continuous support for additional years in manufacturing targets India’s foundation for robust, export-driven growth.
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Inclusive Growth: Reaches both urban and rural youth—including underrepresented groups—ensuring equitable economic development.
Conclusion of Pradhan Mantri Viksit Bharat Rozgar Yojana
The Pradhan Mantri Viksit Bharat Rozgar Yojana represents the government’s robust commitment to employment generation, youth empowerment, and inclusive growth. By supporting both employees and employers, while emphasizing formalization and skills, the scheme seeks to catalyze opportunities nationwide—strengthening the bridge from a free India to a developed, self-reliant Bharat.
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Source: PIB
Image source: Mint
