PM Vikasit Bharat Rozgar Yojana: The Narendra Modi government at the center has launched several schemes for youth. One of these is the Pradhan Mantri Vikasit Bharat Rozgar Yojana. Under this scheme, young people who get their first job will receive an incentive of up to Rs 15,000 in two installments. The first installment will be deposited directly into an Aadhaar-seeded bank account after six months, and the second installment will be deposited in a savings instrument after 12 months. Let’s learn more about the scheme.
The central government launched the scheme earlier this year. Its goal is to promote employment generation, enhance employability, and strengthen social security in all sectors, including micro, small, and medium enterprises (MSMEs) and rural enterprises. The scheme’s benefits will apply to jobs created during the two-year registration period, starting August 1, 2025, and ending July 31, 2027. The scheme aims to stimulate the creation of over 35 million jobs across the country over a two-year period. The budgeted outlay for the scheme is Rs 99,446 crore.
This government scheme has two parts. Under Part A, first-time employees in both existing and new establishments will receive an incentive equivalent to one month’s Employees’ Provident Fund (EPF) salary, subject to a maximum of Rs 15,000. This incentive will be paid in two installments during the first year of employment.
The first installment, amounting to Rs 7,500, will be paid after six months of continuous employment. Eligibility for the second installment will be granted after completing 12 months of employment and successfully completing a prescribed financial literacy program. Under Part B, employers will receive an incentive of up to Rs 3,000 per month for each additional employment created for at least six months.