PM Viksit Bharat Rozgar Yojana: Centre approves Rs 99,446 crore scheme; PM-VBRY to offer incentives for new jobs, first-time employees

New Delhi: To boost employment under the Viksit Bharat initiative, the Union Government launched the PM Viksit Bharat Rozgar Yojana (PM-VBRY) from today, August 1. The scheme, which was approved by the Union Cabinet chaired by Prime Minister Narendra Modi, comes with a budget of Rs 99,446 crore.

The primary goal of PM-VBRY is to generate over 3.5 crore jobs across various sectors over two years between August 1, 2025, to July 31, 2027. A total of 1.92 crore jobs will be for first-time employees entering the workforce. The scheme is divided into two parts and includes-

This is for new employees registered with the Employees' Provident Fund Organisation (EPFO). Eligible workers with salaries up to Rs 1 lakh will receive a one-month EPF wage incentive (maximum Rs 15,000) paid in two instalments after 6 and 12 months of continuous employment.

The second instalment requires to complete a financial literacy programme by the employee. A portion of the incentive will be held in a savings account.

It incentivises employers to create new jobs, especially in the manufacturing sector. For a new employee earning up to Rs 1 lakh per month, employers will get up to Rs 3,000 per month for two years. In manufacturing, the support continues for a period of four years.

Employers with less than 50 staff must hire a minimum of two additional employees, and those with 50 or more must hire at least five. A minimum of six months of sustained employment is necessary.

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The payments to employees will be made via Direct Benefit Transfer (DBT) and to employers through their PAN-linked accounts.