Onlykashmir.in News Desk
Prime Minister Narendra Modi will disburse incentives worth approximately Rs 2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana at a special programme in New Delhi on Friday, marking a significant milestone in the implementation of the government’s flagship employment-linked incentive scheme that has already facilitated jobs for nearly 15 lakh workers across the country.
The scheme, commonly referred to as PM-VBRY, came into effect on August 1 last year and has a total outlay of Rs 99,446 crore. It is designed to incentivise the creation of more than 3.5 crore jobs over a two-year period, with a particular focus on first-time entrants into the formal workforce. Of these, nearly 1.92 crore are expected to be individuals joining formal employment for the first time.
Under the framework of the scheme, first-time employees are eligible for an incentive of up to Rs 15,000 to support their transition into formal employment. On the employer side, businesses generating additional employment can receive incentives of up to Rs 3,000 per month for each new employee added to their payroll, providing a sustained financial nudge for sustained job creation over time.
The scheme places a special emphasis on the manufacturing sector, acknowledging its potential as the largest driver of mass employment in the Indian economy. Employers in manufacturing are eligible for incentives for a period of four years, compared to two years for employers in other sectors, reflecting the longer time horizon required for industrial investments to stabilise and yield employment dividends.
The Prime Minister’s Office noted that this disbursal reflects the government’s commitment to building an enabling ecosystem for employment-led growth and ensuring that the benefits of India’s economic expansion translate into quality formal employment opportunities for its youth. By incentivising both employers and employees, PM-VBRY seeks to simultaneously accelerate job creation and expand social security coverage, pulling more workers into the ambit of provident fund and insurance protections.
Friday’s event will see the Prime Minister interact with beneficiaries drawn from across the country. The Rs 2,400 crore disbursal is among the largest single-day releases under the scheme and is expected to benefit lakhs of workers and their employers. The government views the scale of this disbursal as a demonstration of the scheme’s momentum and its capacity to sustain large-scale formal employment generation.
