Prime Minister Narendra Modi launched the Rs 1 lakh crore Pradhan Mantri Viksit Bharat Rozgar Yojana during his Independence Day address from the Red Fort. The initiative aims to transform job opportunities for India’s youth and stimulate private sector employment.
“There is big news for the youth of the country,” PM Modi declared. “Today, we are starting and implementing a scheme of Rs 1 lakh crore for our youth.”
The scheme took effect from August 15, signalling a major push for employment generation.
Under the initiative, young Indians securing their first job in the private sector will receive Rs 15,000 directly from the government.
PM Modi emphasised that the government will give Rs 15,000 to every young person who secures their first job. This measure aims to ease the transition into formal employment and encourage youth participation in the workforce.
To further drive job creation, the government will reward private sector employers for hiring additional staff.
Companies will receive up to Rs 3,000 per month for each new employee, with extra benefits for the manufacturing sector. These incentives aim to foster sustained employment and expand economic opportunities.
Projected Impact
The Viksit Bharat Rozgar Yojana will create around 3.5 crore new jobs over the next two years, with 1.92 crore youth entering the workforce for the first time.
The Ministry of Labour & Employment, in collaboration with the Employees’ Provident Fund Organisation (EPFO), will oversee implementation and ensure smooth operations.
PM Modi described the initiative as a cornerstone of his vision for a developed and inclusive India by 2047.
“This is my gift to the youth, a double Diwali celebration,” he said, highlighting the focus on economic empowerment and national progress.
With its dual focus on youth and enterprise, the Viksit Bharat Rozgar Yojana represents one of the most ambitious employment-linked reforms in recent years.
The scheme combines direct financial assistance for young workers with incentives for private employers. It aims to strengthen India’s labour market and promote sustainable economic growth.
As registrations open, this transformative initiative will benefit millions of young Indians and private enterprises. It will foster job-led development, encourage private sector participation, and drive India’s long-term economic progress.
Ultimately, the Viksit Bharat Rozgar Yojana signals a bold step towards building a skilled, empowered, and productive workforce. It aims to help India achieve its vision of a developed and inclusive nation by 2047.
Also Read: PM Modi Unveils Visionary Blueprint For Bharat@2047 In Bold Independence Day Address
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