New Delhi, August 15 (HS): Delivering his Independence Day address from the Red Fort, Prime Minister Narendra Modi announced the launch of the Pradhan Mantri Viksit Bharat Rozgar Yojana, a landmark employment initiative aimed at boosting youth job opportunities and incentivising companies to hire.

Under the ambitious ₹1 lakh crore programme, young Indians taking up their first-ever job in the private sector will receive a direct financial grant of ₹15,000 from the government, starting immediately. The scheme is expected to benefit over 3.5 crore youth nationwide.

The initiative has a dual focus — supporting first-time employees and rewarding employers who create new jobs, particularly in the manufacturing sector.

How it works:

-First-time employees registering with the Employees’ Provident Fund Organisation (EPFO) will be eligible.

-The ₹15,000 support will be paid in two instalments — the first after completing six months in the job, and the second after completing a full year along with a mandatory financial literacy programme.

-The scheme applies only to employees earning up to ₹1 lakh per month.

Employer Incentives:

-Companies hiring fresh workers in manufacturing will receive ₹3,000 per employee per month for up to two years, provided the employee stays for at least six months.

-Manufacturing-sector incentives will extend into the third and fourth years as well under specific conditions.

PM Modi said the plan would not only put money in the hands of young professionals but also encourage industries to expand hiring. “On this Independence Day, we are investing directly in our youth and their future,” he told the nation.

With the programme rolling out from today, it marks one of the government’s biggest employment support initiatives in recent years — signalling a push to strengthen manufacturing jobs, reduce entry barriers for youth, and energise India’s job market.

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Hindusthan Samachar / Jun Sarkar