Prime Minister Narendra Modi will tomorrow disburse incentives worth ₹2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) at a programme in New Delhi, marking a significant step towards strengthening employment generation and expanding India's formal workforce.
Addressing the media in New Delhi, Union Labour and Employment Minister Dr. Mansukh Mandaviya highlighted the achievements of the flagship employment initiative, stating that since August last year, more than 63 lakh employees have been brought into the formal workforce through the scheme. Notably, nearly 30 per cent of these beneficiaries are women, reflecting the government's emphasis on promoting inclusive growth and increasing women's participation in the workforce.
Dr. Mandaviya said that the scheme has also emerged as a major support mechanism for small businesses. More than 80 per cent of the establishments benefiting from PM-VBRY are small enterprises employing fewer than 25 workers. By incentivising such enterprises, the government aims to encourage job creation at the grassroots level while strengthening the country's micro and small business ecosystem.
Under the scheme, young individuals securing their first government job will receive financial incentives of up to ₹15,000 in two instalments. These incentives are designed to support new entrants into the workforce and encourage greater participation in formal employment. During tomorrow's programme, the benefits will be transferred directly into the bank accounts of more than 15 lakh beneficiaries through the Direct Benefit Transfer (DBT) mechanism, ensuring transparency and efficient delivery of financial assistance.
The Labour and Employment Minister underscored the importance of PM-VBRY in fostering employment opportunities across sectors and promoting economic development. He noted that small and emerging enterprises form the backbone of India's economy and play a crucial role in generating jobs. The scheme, therefore, seeks to provide them with the necessary support to expand operations and hire more workers.
The PM-VBRY initiative aligns with the government's broader vision of creating a developed India by enhancing employment prospects, formalising the workforce, and empowering youth. With millions of workers already brought under the formal employment framework, the scheme is expected to contribute significantly to economic growth while improving social security coverage and workplace benefits for employees across the country.
The disbursement of ₹2,400 crore under the programme is expected to provide a further boost to employment generation efforts and reinforce the government's commitment to building a robust, inclusive, and future-ready workforce.
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