Prime Minister Narendra Modi on Friday announced a new jobs scheme, the Pradhan Mantri Viksit Bharat Rozgar Yojana ( PM-VBRY ), during his Independence Day speech at the Red Fort.
“Today, I bring good news for the youth of our country. From today, under the PM Viksit Bharat Rozgar Yojana , sons and daughters getting their first job in the private sector will be given Rs 15,000,” he said.
The scheme, approved earlier by the Union Cabinet, started on August 1, 2025. It replaces the earlier Employment Linked Incentive Scheme and is part of the government’s plan to create more jobs across the country.
With a budget of Rs 99,446 crore, it aims to help create over 3.5 crore jobs in two years. Out of these, about 1.92 crore will be for people entering the job market for the first time. The benefits will apply to jobs created between 1 August 2025 and 31 July 2027.
The scheme has two main parts. In the first, people getting their first job and earning up to Rs 1 lakh a month will get an incentive of up to Rs 15,000 in two payments, one after six months and the other after a year, if they also attend a financial awareness programme. Part of this money will be kept aside in a savings account to encourage saving.
In the second part, employers who hire more workers will get up to Rs 3,000 a month for each new employee for two years, with manufacturing companies getting the benefit for up to four years. To qualify, employers must be registered with the Employees’ Provident Fund Organisation and must hire at least two extra people if they have fewer than 50 employees, or five extra people if they have 50 or more. The government says the scheme will encourage more hiring and support economic growth.
“Today, I bring good news for the youth of our country. From today, under the PM Viksit Bharat Rozgar Yojana , sons and daughters getting their first job in the private sector will be given Rs 15,000,” he said.
The scheme, approved earlier by the Union Cabinet, started on August 1, 2025. It replaces the earlier Employment Linked Incentive Scheme and is part of the government’s plan to create more jobs across the country.
With a budget of Rs 99,446 crore, it aims to help create over 3.5 crore jobs in two years. Out of these, about 1.92 crore will be for people entering the job market for the first time. The benefits will apply to jobs created between 1 August 2025 and 31 July 2027.
The scheme has two main parts. In the first, people getting their first job and earning up to Rs 1 lakh a month will get an incentive of up to Rs 15,000 in two payments, one after six months and the other after a year, if they also attend a financial awareness programme. Part of this money will be kept aside in a savings account to encourage saving.
In the second part, employers who hire more workers will get up to Rs 3,000 a month for each new employee for two years, with manufacturing companies getting the benefit for up to four years. To qualify, employers must be registered with the Employees’ Provident Fund Organisation and must hire at least two extra people if they have fewer than 50 employees, or five extra people if they have 50 or more. The government says the scheme will encourage more hiring and support economic growth.
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