PM Modi unveils Rs 99,446 crore Viksit Bharat Rozgar Yojana to generate 3.5 crore jobs in two years

Prime Minister Narendra Modi, in his Independence Day address from the Red Fort on Friday, unveiled the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), a new employment initiative aimed at boosting job creation across the country. Announcing the launch, Modi said the scheme would provide financial assistance of ₹15,000 to young men and women securing their first private-sector job. Approved earlier by the Union Cabinet and effective from August 1, 2025, the PM-VBRY replaces the Employment Linked Incentive Scheme and forms a key part of the government’s strategy to generate more employment opportunities. With an allocation of ₹99,446 crore, the programme targets the creation of over 3.5 crore jobs within two years, including around 1.92 crore for first-time entrants to the workforce. The benefits will apply to jobs created between August 1, 2025, and July 31, 2027.

Key benefits under PM-VBRY
For first-time employees enrolled with the Employees’ Provident Fund Organisation (EPFO) and earning up to ₹1 lakh per month, the scheme offers incentives of up to ₹15,000 in two instalments — the first after six months of service and the second after a year, following completion of a financial literacy programme. A portion of this amount will be deposited into a savings account to encourage long-term money management.

Employers hiring additional staff will receive incentives of up to ₹3,000 per month for each new recruit for a period of two years, with manufacturing sector firms eligible for the benefit for up to four years.