With the launch of the PM Viksit Bharat Rozgar Yojana (PMVBRY), which is aimed at generating almost 3.5 crore jobs in the next two years, Prime Minister Narendra Modi made a pitch for ‘swadeshi’ goods that are high on quality and low in prices.
“Today is August 15, and we are launching the ₹1-lakh-crore PM Viksit Bharat Rozgar Yojana for the youth of this country,” Prime Minister Modi said in his Independence Day speech made from the Red Fort in New Delhi.
The scheme had been cleared by the PM-chaired Union Cabinet on July 1 this year, with an outlay of ₹99,446 crore earmarked for it.
Under the programme, first-time employees in the private sector – nearly 1.92 crore of them, as per estimates – would be eligible to receive ₹15,000, while companies employing them will also get incentives.
The benefits of PMVBRY would only be applicable to jobs created between August 1, 2025, and July 31, 2027; and will focus especially on the manufacturing sector.
Also Read: PM Rozgar Yojana rollout on August 1
Aligned with the country’s ‘Viksit Bharat 2047’ mission that was floated by the government to generate inclusive and sustainable employment in the country and encourage self-reliance, the scheme has been categorised into two parts: for first-time employees and employers.
Those who have forayed into employment for the first time, are registered with the retirement fund body, EPFO, and earning salaries up to ₹1 lakh per month, would receive ₹15,000 in two installments. The first installment of the one-month EPF wage would be payable after six months of service; while the second installment would be payable after 12 months of service and completion of a financial literacy programme.
Meanwhile, employers would be eligible to receive up to ₹3000 per month for two years, for each additional employee with sustained employment for at least six months. Employers in the manufacturing sector may receive incentives for the third and fourth years as well.
However, only those employers are eligible to receive incentives who hire employees with salaries up to ₹1 lakh a month.
Establishments which are registered with EPFO will be required to hire at least two additional employees (in case of employers with less than 50 employees) or five additional employees (in case of employers with 50 or more employees), on a sustained basis for at least six months.
The Prime Minister also called on entrepreneurs and industries to focus on manufacturing quality products at reasonable prices, saying they should adopt the ‘zero defect, zero effect’ mantra in product manufacture.
Urging traders, manufacturers, consumers, and shopkeepers to embrace the ‘Local for Vocal’ motto, especially in the face of heightened tariffs on Indian exports to the US that threaten to hurt India’s economy, the Prime Minister said that we must champion India-made goods and take pride in our manufacturing’s strength.
The government, on its part, has promised to work on the ‘national manufacturing mission’ that includes provision of raw materials to micro, small, medium and large enterprises so that the cost of production remains low.
“If we have to showcase the prowess of our products in the global market, we should continuously scale new heights on the quality front because the world respects quality. Daam kam, lakin dum zyada (lower prices, but higher quality),” said the PM.
Addressing the nation for the 12th consecutive time, Prime Minister Modi said 'Make in India' and ‘swadeshi’ boards should be visible to one and all outside shops, and that social media influencers as well as political parties should promote the adoption of domestically-manufactured products.
Also Read: First made-in-India semiconductor chip to be out by year-end: PM
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