New Delhi: In his 12th Independence Day address from the Red Fort, Prime Minister Narendra Modi announced the launch of the Pradhan Mantri Viksit Bharat Rozgar Yojana. The ₹1 lakh crore scheme is designed to create over 3.5 crore jobs in two years.
The initiative offers direct incentives to first-time employees and employers to boost hiring across sectors, with a focus on manufacturing.
Support for First-Time Employees
Under Part A, first-time employees registered with EPFO will receive a one-month EPF wage of up to ₹15,000, paid in two instalments. Eligible employees must earn up to ₹1 lakh annually.
The first instalment will be paid after six months of service. The second will follow after one year, provided the employee completes a financial literacy programme. A portion of the incentive will be held in a fixed deposit or savings instrument, to be withdrawn later.
This component is expected to benefit around 1.92 crore new employees.
Incentives for Employers
Part B incentivizes employers to create additional jobs. Employers hiring staff with annual salaries up to ₹1 lakh will receive up to ₹3,000 per month per new employee for two years, provided the position is maintained for at least six months.
For manufacturing units, incentives will extend to the third and fourth years. This component targets the creation of jobs for nearly 2.60 crore people.
Transparent Payment System
All payments to first-time employees will be made via Direct Benefit Transfer (DBT) through the Aadhaar Bridge Payment System (ABPS). Employer incentives will be credited directly to their PAN-linked bank accounts.
The scheme is designed not only to generate large-scale employment but also to formalize the workforce by extending social security to millions of young Indians.
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