New Delhi: Prime Minister Narendra Modi today announced the launch of the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY), a major employment initiative aimed at supporting young Indians entering the workforce for the first time. The scheme, with a budgetary outlay of Rs 1 lakh crore, was announced during his Independence Day address from the Red Fort.
Under the new policy, individuals securing their first job in the private sector will receive a one-time benefit of up to Rs 15,000 from the central government. The programme, which takes effect immediately, is expected to benefit over 3.5 crore people, including nearly two crore first-time employees, over the next two years.
The Ministry of Labour & Employment confirmed that the scheme was cleared by the Union Cabinet last month. Officials said the move aligns with the government’s Viksit Bharat vision and aims to create inclusive, sustainable employment opportunities across the country.
Two-Tier Structure of the Scheme
The PMVBRY has been designed with two components:
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Part A – Direct Support for First-Time Employees:
Young professionals registering with the Employees’ Provident Fund Organisation (EPFO) will be eligible for incentives equal to one month’s EPF wage, up to ₹15,000, released in two instalments. The first will be issued after six months of continuous employment, and the second after one year of service, provided the beneficiary completes a financial literacy module. Salaries eligible under this plan are capped at ₹1 lakh per month. -
Part B – Incentives for Employers:
Employers hiring new staff will receive up to ₹3,000 per month for each additional employee retained for at least six months. For manufacturing firms, this support can continue for up to four years. To qualify, companies must be registered with the EPFO and hire a minimum of two new employees (for units with fewer than 50 workers) or five new employees (for larger establishments).
All payments, both to employees and employers, will be processed through direct benefit transfers into Aadhaar- or PAN-linked accounts to ensure transparency.
The Prime Minister Narendra Modi said the scheme is intended not just to create jobs but also to foster a culture of saving among young professionals. “This is an investment in the aspirations of our youth and the nation’s future,” he said.
