PM Modi announces Pradhan Mantri Viksit Bharat Rozgar Yojana to create 35 million jobs in India

Prime Minister Narendra Modi used his Independence Day address to announce a sweeping employment push, unveiling a Rs1 trillion scheme he said could help create 35 million jobs in the next two years.

The plan, called the Pradhan Mantri Viksit Bharat Rozgar Yojana, mixes direct support for first-time workers with incentives for employers, especially in manufacturing. It is one of the biggest job-creation programs rolled out in recent years, signaling the government’s intent to court India’s young workforce.

At the launch, the PM Modi called the plan a 'transformational step,' saying it was about more than just jobs, it was about giving people security, stability and opportunity.

Under the scheme, new employees registered with the Employees’ Provident Fund Organisation (EPFO) will get up to ₹15,000 in incentives, split into two instalments. The first payout will come after six months of continuous service, the second after a year, provided workers also complete a financial literacy program. Officials said about 1.92 crore young people could benefit from this track.

Employers, on the other hand, will be eligible for subsidies of up to ₹3,000 a month for each new hire. The support lasts two years, with an extension to four years for manufacturing units. The government estimates this could encourage companies to add nearly 2.6 crore jobs.

All payments are set to be routed digitally, will be made through DBT (Direct Benefit Transfer) mode using Aadhar Bridge Payment System (ABPS) and companies through PAN-linked accounts. Officials say this not only promotes transparency but also brings more workers into the formal system.