70 lakh jobs created under PM-VBRY: PM, Pg12

Key Highlights:

• Prime Minister Narendra Modi announced that approximately 70 lakh jobs have been created under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY).
• Around 20 lakh youths have completed six months in their first jobs, with 10 lakh receiving incentives for this milestone.
• Over ₹2,000 crore has been disbursed as incentives to eligible beneficiaries under the scheme.
• The PM-VBRY came into effect on August 1, 2025, with a total outlay of ₹99,446 crore.

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Detailed Insights:

• The PM-VBRY is designed to incentivize the creation of over 3.5 crore jobs across the country over a two-year period, from August 2025 to July 2027.
• The scheme anticipates around 1.92 crore beneficiaries to be first-time entrants into the workforce.
• First-time employees are eligible for an incentive of up to ₹15,000, while employers generating additional employment can receive up to ₹3,000 per month per additional employee.
• The scheme is implemented by the Ministry of Labour & Employment through the Employees' Provident Fund Organisation (EPFO).
• It aims to expand formal employment, strengthen social security coverage, and contribute to the vision of a Viksit Bharat.
• Women constitute nearly 30% of the beneficiaries brought into the formal workforce under the scheme.
• The scheme has two main components: Part A provides incentives to first-time employees, and Part B supports employers for generating additional employment.

Key Concepts Involved:

• Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY): A government scheme launched to incentivize job creation and formalize employment by providing financial support to both new employees and employers.
• Viksit Bharat: The Government of India's vision to transform India into a developed nation by 2047, marking 100 years of independence.
• Formal Employment: Employment characterized by social security benefits, regulated working conditions, and adherence to labor laws.
• Social Security: Government-provided benefits or services that provide protection against economic and social distress, such as provident funds and health insurance.