Prime Minister Narendra Modi on Friday disbursed incentives worth around ₹2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), an employment-linked incentive scheme aimed at supporting first-time employees, encouraging job creation and expanding social security coverage across sectors.
Addressing beneficiaries, industry representatives and other stakeholders, PM Modi said the scheme had supported the creation of 15 lakh employment opportunities and served as a bridge between young job seekers and industry by simultaneously supporting both employees and employers.
Highlighting the scheme’s progress, the Prime Minister said nearly 70 lakh new jobs had been created so far and an equal number of first-time employees had been brought under the ambit of social security. Around 20 lakh young people have completed six months in their first jobs, while nearly 10 lakh beneficiaries have already received incentives after reaching that milestone. More than ₹2,000 crore has been directly transferred to beneficiaries’ bank accounts.
PM Modi said employment generation gains momentum when the government, industry and youth work together and described the initiative as a reflection of a new India where young people receive opportunities, industries receive encouragement and employment generation becomes a national mission.
Highlighting India’s demographic advantage, PM Modi said the country’s journey towards becoming a developed nation is closely linked to the aspirations, skills and capabilities of its youth. He said initiatives such as Make in India, Vocal for Local, Mission Manufacturing and efforts to take local products to global markets have expanded opportunities for both employment and self-employment.
The Prime Minister said government investment of more than ₹12 lakh crore in infrastructure was creating a strong foundation for employment generation, while assistance exceeding ₹33 lakh crore under the Pradhan Mantri Mudra Yojana had enabled millions of young people to establish their own enterprises. He also highlighted the contribution of Self-Help Groups, Lakhpati Didi, PM SVANidhi and PM Vishwakarma in supporting livelihoods and entrepreneurship.
PM Modi said emerging sectors such as drones, digital services, the gig economy, platform-based businesses, content creation and technology-driven enterprises were creating new employment opportunities. He noted that India now has more than two lakh registered startups, compared with around 500 a decade ago.
Referring to his recent visit to France, the Prime Minister highlighted the ‘India Innovates’ event, which brought together Indian startups and global investors in sectors such as artificial intelligence, space technology, green energy and biotechnology.
He also said India was expanding its network of trade agreements, opening new markets for domestic industries and creating opportunities for Indian professionals. Stressing the importance of skilled talent, innovation and quality, PM Modi said countries that invest in these areas would be best placed to benefit from opportunities in the 21st century.
The Prime Minister also highlighted efforts to modernise the Employees’ Provident Fund Organisation (EPFO), simplify pension systems and expand access to health insurance and affordable healthcare, saying employment should be linked with security, dignity and social protection.
The PM said measures aimed at increasing women’s participation in the workforce, including workplace safety, night-shift employment and work-from-home opportunities, were also contributing to economic growth.
Expressing confidence in India’s youth, PM Modi said young Indians would play a leading role in driving global growth, innovation and entrepreneurship in the years ahead as the country advances towards the goal of becoming a developed nation.
