PM Modi Launches ₹1 Lakh Crore Viksit Bharat Rozgar Yojana to Create 3.5 Crore Jobs

New Delhi, August 15: In his 12th Independence Day address from the Red Fort, Prime Minister Narendra Modi on Friday announced the Pradhan Mantri Viksit Bharat Rozgar Yojana, a landmark employment scheme with a financial outlay of nearly ₹1 lakh crore aimed at creating over 3.5 crore jobs in two years.

The scheme has two components:

Part A – Support for First-Time Employees
Targeting 1.92 crore first-time employees registered with the EPFO, this part offers an incentive of up to ₹15,000 in two instalments for those earning up to ₹1 lakh per month. The first instalment will be paid after six months of continuous service, and the second after 12 months and completion of a financial literacy programme. To encourage savings, part of the incentive will be locked in a deposit account for later withdrawal.

Part B – Incentives for Employers
Designed to spur job creation across sectors — with special focus on manufacturing — this part provides employers an incentive of up to ₹3,000 per month per new employee for two years, extended to four years for manufacturing jobs. It targets 2.6 crore additional employment opportunities, with eligibility for employees earning up to ₹1 lakh per month and sustained in the role for at least six months.

Payment Mechanism
All employee incentives will be transferred directly via the Aadhaar-Based Payment System (ABPS), while employer incentives will be credited to PAN-linked accounts.

The Prime Minister said the scheme will not only drive massive employment generation but also formalise the workforce by expanding social security coverage to crores of young men and women, bridging the path from Swatantra Bharat to Samriddha Bharat.