New Delhi, India - In a significant move to bolster employment and formalize the workforce, Prime Minister Narendra Modi announced the Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY) on August 15, 2025. This ambitious scheme, with a substantial outlay, aims to energize the job market by providing financial incentives to both new employees and employers, marking a new chapter in India's journey towards "Viksit Bharat" (Developed India) by 2047.
The PM-VBRY is a key component of the government's strategy to create a robust and inclusive employment ecosystem. It is designed to encourage the formalization of the economy by bringing more workers into the organized sector, thereby ensuring social security benefits and better wages.
Key Objectives of the PM Viksit Bharat Rojgar Yojana
The primary goals of this new employment scheme are:
To stimulate the creation of new jobs in the formal sector across the country.
To incentivize employers to expand their workforce and generate sustainable employment opportunities.
To provide financial support to new entrants in the job market, easing their transition into the formal workforce.
To promote the registration of establishments and employees with the Employees' Provident Fund Organisation (EPFO), thereby extending the reach of social security benefits.
Attractive Benefits for Employees and Employers
The PM Viksit Bharat Rojgar Yojana offers a dual-pronged approach, benefiting both the creators and seekers of employment.
For Employees:
First-time employees joining the formal workforce will receive a direct cash incentive. This financial assistance is intended to supplement their initial earnings and encourage them to remain in the formal sector. The incentive will be disbursed in a structured manner to ensure its effective utilization.
For Employers:
To encourage businesses to hire more, the government will provide a subsidy to employers for each new eligible employee they hire. This subsidy is expected to reduce the cost of hiring for companies, thereby motivating them to expand their teams and contribute to job creation. The scheme will have specific criteria for the number of new jobs that need to be created to avail of these benefits.
Eligibility Criteria
To ensure that the benefits of the scheme reach the intended recipients, specific eligibility criteria have been laid out:
For Employees:
Must be a new employee entering the formal sector for the first time.
Must be registered under the Employees' Provident Fund Organisation (EPFO).
Other criteria related to salary and age may also be applicable.
For Employers:
Must be registered with the EPFO.
Must demonstrate an increase in their employee count after a specified date.
The scheme will be applicable to establishments of all sizes, with specific targets for new employment generation based on the existing workforce.
How to Apply for the PM Viksit Bharat Rojgar Yojana
The application process for the PM-VBRY has been designed to be simple and user-friendly, leveraging the digital infrastructure of the country.
For Employers: Establishments will need to register on the official portal of the scheme and link their EPFO accounts. The process will be largely online, requiring the submission of necessary documents to verify their eligibility.
For Employees: The benefits for new employees will likely be channeled through their EPFO accounts, which will be linked to their Aadhaar and bank accounts. This will ensure transparency and direct benefit transfer.
A Step Towards a 'Viksit Bharat'
The Pradhan Mantri Viksit Bharat Rojgar Yojana is a forward-looking initiative that aligns with the broader vision of "Viksit Bharat @ 2047." By fostering a conducive environment for job creation and formalization, the scheme aims to empower the youth, strengthen the economy, and ensure a more secure future for the country's workforce. The official portal for the scheme is expected to be launched soon, providing detailed guidelines and the application process.
This yojana is poised to be a game-changer in India's employment landscape, providing a much-needed impetus to both job seekers and employers as the nation strides towards its centenary of independence.