PM releases ₹2,400 cr job incentives
New Delhi: Prime Minister Narendra Modi on Friday said the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) has generated over 70 lakh jobs across the country, as he released incentives worth Rs 2,400 crore to 15 lakh first-time employees and their employers through direct benefit transfer.
Addressing an event, Modi said the scheme supports employment generation while encouraging employers to create new jobs and strengthening social security for youth. “Through PM PM-VBRY, we are supporting the employment generation, empowering youth and building a stronger workforce for the future. The scheme is about empowering first-time employees and building a bridge between the youth and the industry. The aspirations, skills and potential of our youth shape the path to a Viksit Bharat,” he said.
He said nearly 20 lakh young people have completed six months in their first job under the scheme, of whom around 10 lakh have received incentives. “More than Rs 2,000 crore has been transferred directly to their bank accounts and this amount is not just financial assistance, it is recognition of their hard work,” he said.
The Prime Minister said coordinated efforts between the government, youth and industry would accelerate job creation. “And the world is preparing for the economy of the future, and India is preparing to lead the economy of the future. The world is moving towards future technology, and India is working to make its youth future-ready. This is the biggest opportunity for the youth of India, and we must take full advantage of this opportunity,” he said.
He said the government was focused on ensuring opportunities for youth based on their skills and potential. “Those who have talent should get opportunities, those who have ideas should get a platform for innovation, and those who want to do something on their own should get full support,” he said.
Highlighting sectoral growth, Modi said new opportunities had emerged across infrastructure, manufacturing, digital economy, space and start-ups. “Once upon a time, there were only about 500 start-ups in the country. Today, there are over 2-lakh registered start-ups, and you'll find them in every district of the country. These figures give confidence that India's youth will lead the world's growth, innovation, and entrepreneurship in the coming years,” he said.
He added that new trade agreements with global partners were opening markets and generating employment opportunities. “In the past few months, important agreements have also been signed with several European countries. These agreements are also becoming a means of creating millions of new jobs in the country,” he said.
Under PM-VBRY, the government has allocated Rs 99,446 crore with a target of generating 3.5 crore jobs over two years. The scheme provides up to Rs 15,000 for first-time employees, while employers receive up to Rs 3,000 per month per new employee, with extended benefits of up to four years for the manufacturing sector.
