Prime Minister Viksit Bharat Zagar Yojana, who is expected to generate 3.5 crore jobs in the next two years.
In July, the Union cabinet approved this program focused on the motivation of jobs in the country.
“Today is 15th August and we are starting and £1 lakh crore scheme for youth of this country. It is good for you that PM Viksit Bharat Zagar Yojana has appeared since today, ”Modi said in his speech Independence Day.
He said in this scheme youth is acquired by the first employment in the private sector £15,000 and companies that employ them will receive incentives.
Scheme, the eligibility of candidates and benefits
* With expenditure £99 446 Crore, PM Viksit Bharat Zagar Yojana (PMVBry) places more than 3.5 jobs of crore in two years. Of these, 1.92 Crore recipients will be the first timers and enter the workforce.
* The benefits of the system would apply to jobs created from 1 August 2025 and 31. July 2027.
* The diagram consists of two parts: Part A focuses on the first timers A part B is focused on employers.
Part and –
* Jobs created from 1 August 2025 and 31. July 2027 are eligible
* Must be the first employees of the private sector
* Must be registered with the Organization of the Provisional Fund of Employees (EPFO)
* Monthly earnings should be on £1 lakh
* Employees receive one month of EPF wages £15,000 in two installments. The first installment after 6 months of service and second installments after 12 months and completing the financial literacy program.
* Employees will receive direct benefits (DBT) via payment system AADHAAR (ABP)
Part B –
* Incentives for hiring employees £1 lakh
* Up to £For each new employee it will be given 3,000 per month for two years
* For manufacturing employers, incentives are extended to the third and fourth year
* Employers must maintain new tenants for at least six months
* Employers must hire two other employees if they have less than 50 employees or five extra if they have more than or equal to 50
* Employers receive funds directly to bank accounts associated with pans
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