Pradhan Mantri Viksit Bharat Rozgar Yojana
Why it Matters?
The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY), announced by the PM in his Independence Day speech, with a ₹99,446 crore outlay aims to create 3.5+ crore jobs (2025–2027), enhancing employment, skill development, and social security. Incentives are provided to employees (₹15,000) and employers (₹3,000/month).
What You Should Know?
The scheme is being implemented by the Ministry of Labour & Employment through the Employees’ Provident Fund Organisation under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952.
The scheme was approved by the Union Cabinet on 1st July 2025 under the Employment Linked Incentive Scheme.
The total outlay is ₹99,446 crore, targeting the creation of more than 3.5 crore jobs over two years.
The scheme covers all sectors with special focus on the manufacturing sector.
Job creation under the scheme applies from 1st August 2025 to 31st July 2027.
Newly employed youth will receive incentives of up to ₹15,000 in two instalments.
Employers creating new jobs are eligible for ₹3,000 per month per employee.
Employee payments are made through Direct Benefit Transfer using the Aadhaar Bridge Payment System, and employer payments go directly into PAN-linked accounts.
Benefits for employees include job formalization, on-the-job training, improved employability, and financial literacy skills.
Benefits for employers include offsetting the cost of new job creation, enhancing workforce stability, and incentivizing social security coverage.