PM Modi’s I-Day speech: What is Pradhan Mantri Viksit Bharat Rozgar Yojana for youth? Check eligibility, and other details
In a move aimed at wooing the youth of the country, Prime Minister Narendra Modi announced the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) today, in his Independence Day speech at the Red Fort in New Delhi.
Addressing the nation on the 79th Independence Day, Modi said that the youth getting their first job in private sector will get Rs 15,000 from the Union government.
The scheme, which will officially come into effect from August 15, 2025, is expected to benefit over 3.5 crore young Indians over the next two years, from August 2025 to July 2027.
“My country’s youth, today is 15th August, and on this very day, we are launching a scheme worth Rs 1 lakh crore for the youth of our country. From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented,” PM Modi said.
Companies that create more employment opportunities will also be given incentives, he added.
The scheme is aimed to not only drive employment, but also to encourage employers to expand hiring, and promote financial inclusion by ensuring employees are registered with the Employees’ Provident Fund Organisation.
Previously known as the Employment Linked Incentive (ELI) Scheme, the PM-VBRY is a two-part incentive system, according to abplive.com – Part A is for first-time employees, and Part B for employers.
Part A
Eligibility: Employees earning up to Rs 1 lakh/month
Incentive: One month’s EPF contribution (up to Rs 15,000), paid in two instalments:
First instalment: After 6 months of continuous employment
Second instalment: After 12 months, upon completion of financial literacy training
A portion of the incentive is locked into a savings instrument, encouraging long-term financial security
Part B
Eligibility: Employees earning up to Rs 1 lakh/month.
Incentive: Up to Rs 3,000/month per new employee for two years. In manufacturing, this extends to the third and fourth years.
Hiring requirements:
Companies with fewer than 50 employees must hire at least 2 additional workers.
Companies with 50 or more employees must hire at least 5 additional workers.
Jobs must be maintained for a minimum of 6 months.
Incentive payment process
Employees (Part A): Payments to be made via Direct Benefit Transfer (DBT) through Aadhaar-based ABPS.
Employers (Part B): Incentives credited directly to PAN-linked bank accounts.
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