'Rs 15,000 in 1st pvt job': PM Modi unveils Viksit Bharat Rozgar Yojana; what the scheme offers

Prime Minister Narendra Modi on Friday announced a new jobs scheme, the Pradhan Mantri Viksit Bharat Rozgar Yojana ( PM-VBRY ), during his Independence Day speech at the Red Fort.

“Today, I bring good news for the youth of our country. From today, under the PM Viksit Bharat Rozgar Yojana , sons and daughters getting their first job in the private sector will be given Rs 15,000,” he said.

The scheme, approved earlier by the Union Cabinet, started on August 1, 2025. It replaces the earlier Employment Linked Incentive Scheme and is part of the government’s plan to create more jobs across the country.

With a budget of Rs 99,446 crore, it aims to help create over 3.5 crore jobs in two years. Out of these, about 1.92 crore will be for people entering the job market for the first time. The benefits will apply to jobs created between 1 August 2025 and 31 July 2027.

Incentives under PM-VBRY

For first-time employees registered with EPFO: Youth entering the job market with salaries up to Rs 1 lakh per month will receive up to Rs 15,000 in two instalments, the first after six months of employment and the second after 12 months, following completion of a financial awareness programme. Part of the incentive will be placed in a savings account to promote long-term financial habits.

For employers: Companies hiring additional workers will receive up to Rs 3,000 per month for each new employee for two years. Manufacturing firms will get this benefit for up to four years.