New Delhi, June 17 (IANS). Prime Minister Narendra Modi will release incentives worth about Rs 2,400 crore under the Pradhan Mantri Vikas Bharat Rozgar Yojana (PM-VBRY) at a special event to be held on June 19 (Friday). This was announced by the Prime Minister’s Office (PMO) on Wednesday.
According to the PMO, the scheme has helped in creating approximately 15 lakh employment opportunities across the country since its launch. The objective of the scheme is to encourage both employees and employers to join the formal economy.
Under the scheme, first-time employees are given an incentive amount of up to Rs 15,000, so that they can get financial assistance at the beginning of employment.
At the same time, employers creating additional employment are given an incentive of up to Rs 3,000 per month on each new employee, so that employment creation can be promoted.
Considering the manufacturing sector as the main basis of economic development, the government has made a provision to provide incentives to the employers of this sector for four years. Employers in other sectors will get this benefit for two years.
The government says the scheme reflects its commitment to promote employment-led growth and deliver the benefits of economic progress to the youth in the form of quality formal employment.
The scheme with a total outlay of Rs 99,446 crore was implemented from August 2025. It aims to create more than 3.5 crore employment opportunities in two years.
According to the government, the total targeted beneficiaries of the scheme will include about 1.92 crore youth who will start formally working for the first time.
The Government believes that this scheme will play an important role in furthering the goal of a developed India by expanding formal employment, strengthening social security coverage and supporting both workers and employers.
–IANS
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