Prime Minister Narendra Modi will disburse incentives worth around 2 thousand four hundred crore rupees under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) at a special programme in New Delhi on Friday.

 

The Prime Minister’s Office (PMO) said that the disbursal marks a significant milestone in the implementation of the Centre’s flagship employment-linked incentive scheme, which aims to accelerate job creation, promote formalisation of employment and expand social security coverage. It added that the scheme has already facilitated employment for around 15 lakh beneficiaries across the country. 

 

Under the scheme, first-time employees are eligible for an incentive of up to 15 thousand rupees to support their entry into the workforce. Employers generating additional employment can receive incentives of up to 3 thousand rupees per month for each additional employee, encouraging sustained job creation. The scheme also provides enhanced support to the manufacturing sector. Employers in manufacturing are eligible for incentives for four years, while those in other sectors can avail incentives for two years. 

 

PMO noted that the scheme reflects the Government’s commitment to fostering an enabling ecosystem for employment-led growth and ensuring that the benefits of India’s economic progress translate into quality formal employment opportunities for its youth.

 

PM-VBRY came into effect on the 1st of August last year. With a total outlay of 99 thousand 446 crore rupees, the scheme aims to incentivise the creation of more than 3.5 crore jobs over a two-year period. including nearly 1.92 crore first-time entrants into the workforce.