Pradhan Mantri Viksit Bharat Rozgar Yojana, Download PDF, How to Apply Online

On 15th August, during his Independence Day address from the Red Fort, Prime Minister Narendra Modi announced the launch of a new scheme – ‘Pradhan Mantri Viksit Bharat Rozgar Yojana’. This is a national scheme aimed at creating fresh employment opportunities for young people and encouraging private sector companies to hire more workers. The budget of this scheme is ₹1 lakh crore.

PM Modi described it as “big news for the youth of the country”, stating that the scheme would come into effect immediately from 15th August. It will provide direct financial incentives to both first-time job seekers and the companies that employ them. The government expects this initiative to create around 3.5 crore jobs over the next two years, with 1.92 crore people entering the workforce for the first time.

Features and Benefits of Pradhan Mantri Viksit Bharat Rozgar Yojana

First-time private sector employees will receive a one-time incentive of ₹15,000 directly from the government to help them enter formal employment. Employers will get up to ₹3,000 per month for each new employee hired. The manufacturing sector will receive additional special benefits to boost hiring in that segment.

The scheme will provide incentive of up to ₹15,000  in two instalments to newly employed youth and upto 3000 per month per new employee to employers for creation new job opportunities.

The scheme will be implemented by the Ministry of Labour and Employment in coordination with the Employees’ Provident Fund Organisation (EPFO). PM Modi emphasised that this programme is an important part of the ‘Developed India Mission’, which aims to make India a developed and inclusive nation by 2047.

Part A – Support to First-Time Employees:

Targeting first-time employees registered with EPFO, this Part will offer one-month EPF wage up to Rs 15,000 in two instalments. Employees with salaries up to Rs 1 lakh will be eligible for the incentives. The 1st instalment will be payable after 6 months of service and the 2nd instalment will be payable after 12 months of service and completion of a financial literacy programme by the employee. To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.

The Part A will benefit around 1.92 crore first time employees.

Part B – Incentives for Employers:

This part will encourage generation of additional employment in all sectors, with a special focus on the manufacturing sector. The employers will get incentives in respect of  new employees with salaries up to Rs 1 lakh. The Government will incentivize employers, up to Rs 3000 per month, for two years, for each additional employment, sustained  for at least six months. For the manufacturing sector, incentives will be extended to the 3^rd and 4^th  years as well.

This part is expected to incentivize employers for the creation of additional employment of nearly 2.60 crore persons.

Incentive Payment Mechanism:  All payments to the First Time Employees under Part A of the Scheme will be made through DBT (Direct Benefit Transfer) mode using Aadhar Bridge Payment System (ABPS). Payments to the Employers under Part B will be made directly into their PAN-linked Accounts. With ELI Scheme, the government intends to catalyse job creation in all sectors, particularly in manufacturing sector, besides incentivizing youth joining the workforce for the first time. An important outcome of the Scheme will also be formalization of the country’s workforce by extending social security coverage for crores of young men and women.

Pradhan Mantri Viksit Bharat Rozgar Yojana PDF

Click here to download Pradhan Mantri Viksit Bharat Rozgar Yojana PDF. You can download PDF and read all the important features and benefits of Pradhan Mantri Viksit Bharat Rojgar Yojana.

Pradhan Mantri Viksit Bharat Rozgar Yojana How to Apply Online

Click here to apply online for Pradhan Mantri Viksit Bharat Rozgar Yojana. You can apply for Pradhan Mantri Viksit Bharat Rojgar Yojana and get Rs.15,000 incentive from the Government of India.