The Prime Minister announced the Pradhan Mantri Viksit Bharat Rojgar Yojana on Independence Day with a budget of ₹1 lakh crore, aimed at boosting youth employment and job creation.
Key Features of the Scheme
Objective
- To generate new employment opportunities, especially in the manufacturing sector, while supporting both employees and employers.
Part A – Support to First-Time Employees
- Targets 1.92 crore new employees registered with EPFO.
- Eligible employees: those earning up to ₹1 lakh salary.
- Incentive: ₹15,000 per employee (in two instalments – after 6 and 12 months).
- A portion of the incentive will be kept in the employee’s savings account.
- Payments made via Direct Benefit Transfer (DBT) using Aadhaar-based payment system.
Part B – Incentives for Employers
- Incentive for employers to hire new workers earning up to ₹1 lakh salary.
- ₹3,000 per month per employee for two years, provided the job is sustained for at least 6 months.
- For the manufacturing sector, incentives continue in the 3rd and 4th years as well.
- Expected to generate around 2.6 crore additional jobs.
- Payments will be transferred to PAN-linked employer accounts.
Significance
- Encourages youth employment and addresses post-pandemic job market challenges.
- Provides financial relief to both employees and employers.
- Strengthens formal employment through EPFO registration.
- Supports India’s push towards becoming a global manufacturing hub.
Conclusion:
The scheme is a dual incentive model—supporting fresh employees with direct cash benefits while motivating employers to expand hiring, especially in manufacturing.
