PM Viksit Bharat Rozgar Yojana: The central government has launched several special schemes to uplift the people, and there is considerable enthusiasm among people to join them. You must have heard of the Pradhan Mantri Viksit Bharat Rozgar Yojana (Prime Minister’s Developed India Employment Scheme). This scheme was launched on Independence Day.
This scheme aims to empower youth economically by creating employment opportunities. It will benefit first-time job seekers and private companies. This ambitious scheme also aims to create 3.5 crore jobs in the next two years. Read on to find out who is eligible for this scheme and the conditions for applying.
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Learn the Important Details of the Scheme
Did you know that this is considered an employment-linked incentive scheme? This scheme is implemented through the Employees’ Provident Fund (EPF). Both first-time job seekers and the companies that employ them will benefit. The government will provide a benefit of ₹15,000 as a cash incentive. The payment process will be phased.
Understanding the Incentive Payment Process
The benefits of the Viksit Bharat Rozgar Yojana will be received in phases. The first instalment will be given after 6 months. The second instalment will be given after 12 months. Some of this money will be deposited in a savings instrument. Completing a financial literacy module is essential to receive the second instalment. The scheme also encourages skill development.
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Benefits for Companies
Besides employees, employers will also benefit. Companies will receive a benefit of up to ₹3,000 per month for hiring new employees. This benefit will be available for a maximum of two years. For manufacturing companies, this benefit will be available for up to four years. There are certain conditions attached.
Recruitment Conditions
If a company has fewer than 50 employees, it will need to hire a minimum of two new people. Companies with 50 or more employees will have to hire at least five new people. This scheme was launched on August 1, 2025. It is fully valid until July 31, 2027. This will provide incentives for job creation.