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' ₹15,000 in first private job': PM Modi announces Viksit Bharat Rozgar Yojana for youth
Under PM Viksit Bharat Rozgar Yojana, over 3.5 crore youth will get ₹15,000 aid before entering the job market for the first time.
During his Independence Day address at Red Fort on Friday, Prime Minister Narendra Modi announced ₹15,000 aid for youth entering the private sector job market for the first time under the Pradhan Mantri Viksit Bharat Rozgar Yojana.
Over 3.5 crore young people are expected to benefit from this scheme.
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“My country’s youth, today is 15th August, and on this very day, we are launching a scheme worth ₹1 lakh crore for the youth of our country. From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented... Under this scheme, young men and women getting their first job in the private sector will receive ₹15,000 from the government. Companies that create more employment opportunities will also be given incentive amounts. The Pradhan Mantri Viksit Bharat Rojgar Yojana will create nearly 3.5 crore new employment opportunities for the youth,” Modi said.
Who is eligible for the Rozgar Yojana?
- Prime Minister Narendra Modi said that under this scheme, youth entering their first job in the private sector will receive ₹15,000, while companies employing them will also be given incentive amounts.
- The PM Viksit Bharat Rozgar Yojana will create employment opportunities for 3.5 crore youth. With an outlay of ₹99,446 crore, the scheme aims to incentivise the creation of over 3.5 crore jobs in two years, of which 1.92 crore will be first-time entrants into the workforce.
- Benefits will apply to jobs created between August 1, 2025, and July 31, 2027. The scheme’s name aligns with the broader Viksit Bharat initiative, reflecting the government’s commitment to inclusive and sustainable employment generation.
- It will incentivise employers to generate new jobs across sectors, with special focus on manufacturing. The scheme has two components: Part A for first-time employees and Part B for employers.
- Part A targets first-time employees registered with the Employees’ Provident Fund Organisation (EPFO), offering one month’s EPF wages up to ₹15,000 in two instalments. Those earning up to ₹1 lakh will be eligible.
- The first instalment will be paid after six months of service, and the second after 12 months of service and completion of a financial literacy programme.
- To encourage savings, part of the incentive will be kept in a fixed-period savings instrument or deposit account, withdrawable at a later date.
- Employers will receive incentives for hiring employees earning up to ₹1 lakh. The government will provide employers with up to ₹3,000 per month per additional employee for two years, for sustained employment of at least six months. For manufacturing employers, incentives will also be extended to the third and fourth years.
- EPFO-registered establishments must hire at least two additional employees if they have fewer than 50 staff, or at least five additional employees if they have 50 or more, maintaining the count for at least six months.
- Payments to first-time employees under Part A will be made through Direct Benefit Transfer (DBT) using the Aadhaar Bridge Payment System (ABPS).
- Payments to employers under Part B will be transferred directly into their PAN-linked bank accounts.
(With PTI inputs)
