Pradhan Mantri Viksit Bharat Rozgar Yojana: A Step Towards Employment Growth

The Government of India launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) on 15 August 2025. Announced by Prime Minister Narendra Modi during his Independence Day speech, this scheme aims to create 3.5 crore jobs in two years and promote formal employment across the country. With a budget of nearly ₹1 lakh crore, the scheme supports both employees and employers.

Benefits for First-Time Employees
Under Part A, the scheme provides financial incentives to youth joining an EPFO-registered company for the first time. Those earning up to ₹1 lakh/month will get up to ₹15,000 in two parts—after six months and after one year of continuous service. The second payment requires completion of a financial literacy program. A part of this money will be kept in a savings account to promote long-term financial planning.

Incentives for Employers
Part B focuses on employers, especially in the manufacturing sector. EPFO-registered employers hiring new workers will receive up to ₹3,000/month per new employee for two years, and up to four years for manufacturing firms. This helps businesses expand their workforce and contribute to job growth.

Payment Process and Impact
Payments to employees are made through Direct Benefit Transfer (DBT) to Aadhaar-linked bank accounts. Employer payments go to PAN-linked business accounts. The scheme also encourages formalisation of jobs and expands social security coverage.

Conclusion
PM-VBRY is a strong step toward building a prosperous and self-reliant India. By supporting both workers and businesses, it not only boosts employment but also strengthens the formal sector and promotes savings and financial literacy.