PM Vikasit Bharat Rojgar Yojana: Prime Minister Narendra Modi is all set to make a significant announcement for the youth of the nation on June 19th by transferring Rs 2,400 crore as the initial installment under the PM Vikasit Bharat Rojgar Yojana (PM-VBRY). The event for the PM Vikasit Bharat Rojgar Yojana program is scheduled to take place at Vigyan Bhawan in New Delhi at 5 p.m. on June 19th.
Launched in August last year, this is the first installment to be disbursed under the scheme after its introduction by Prime Minister Modi during his speech at the Red Fort. Initially named the “Youth Incentive Scheme” (ELI Scheme), it was later rebranded. The primary objectives of the scheme are to boost job creation, formalize employment, enhance employability, and broaden social security coverage across various sectors, having already generated 1.5 million jobs nationwide.
What is the PM Vikas Bharat Rozgar Yojana?
The PM Vikasit Bharat Rojgar Yojana is designed to enhance employment opportunities in the country. Through this initiative, the central government offers Rs 15,000 to first-time job seekers, with companies hiring these individuals also receiving Rs 3,000 per employee per month. Manufacturing companies can avail this benefit for four years, while other sectors can receive it for two years.
Which youth are eligible for the Rs 15,000 in their account?
On June 19th, Prime Minister Narendra Modi will deposit Rs 15,000 into the accounts of young individuals who have secured their first job after August 1, 2025, and have opened a PF account for the first time. Additionally, companies employing these individuals will receive Rs 3,000 per employee. With a total budget of Rs 99,446 crore, the scheme aims to facilitate the creation of over 35 million jobs within a two-year period, with around 19.2 million beneficiaries entering the workforce for the first time.
How much money will be credited to the youth’s account?
According to the scheme’s guidelines, the Rs 15,000 will be distributed in two installments, exclusively to employees whose PF number has been generated for the first time. Individuals earning over Rs 1 lakh per month will not be eligible for this benefit.
How much financial support will companies receive?
For employees earning up to Rs 10,000, companies will receive Rs 1,000 per employee. In the salary range of Rs 10,000 to Rs 20,000, companies will receive Rs 2,000 per month per employee. For salaries between Rs 20,000 and Rs 1 lakh, companies will receive Rs 3,000 per employee.