Prime Minister Narendra Modi is scheduled to launch the first phase of the Pradhan Mantri Viksit Bharat Rojgar Yojana (PMVBRY) on Thursday, with an initial disbursement of ₹2,400 crore aimed at boosting employment generation across the country.
The employment-linked incentive programme seeks to encourage formal job creation by providing financial incentives to both newly hired employees and companies that expand their workforce.
Under the scheme, eligible first-time employees joining the formal sector will receive direct cash transfers in their bank accounts. Employers that recruit additional workers above a prescribed baseline will also receive monetary support to help offset hiring and training expenses.
The initiative is linked to enrolment under the Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC), enabling newly hired workers to receive social security benefits from the start of their employment.
Government officials expect the programme to benefit a large number of young job seekers, particularly in sectors such as manufacturing and services, which have significant employment-generation potential.
The incentives will be released in phases. Benefits for eligible employees are expected to continue for up to two years, while employers will receive support based on the number of additional jobs created.
The rollout marks the first major implementation phase of the PMVBRY announced earlier this year. The Centre plans to monitor fresh EPFO and ESIC registrations through Labour Ministry data systems to ensure transparency and prevent misuse.
The government expects the ₹2,400-crore disbursement to stimulate job creation, increase formal employment, and expand social security coverage for India’s workforce, with additional phases of the scheme planned in the coming months.
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