Prime Minister Shri Narendra Modi today disbursed incentives amounting to approximately ?2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) at a special programme held at Vigyan Bhawan, New Delhi.

The programme was attended by Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya; Minister of State for Labour & Employment and Micro, Small & Medium Enterprises, Ms. Shobha Karandlaje; and senior officials of the Ministry of Labour & Employment. As part of the nationwide outreach effort, PM-VBRY events were also organised simultaneously at around 200 locations across the country.

Addressing the event, Prime Minister Narendra Modi said, “Prime Minister Viksit Bharat Rozgar Yojana is much more than an employment scheme. It is an initiative designed to strengthen the aspirations of young people entering their first jobs while creating a robust bridge between industry and the workforce.” He observed that while many schemes are typically focused either on employees or employers, this programme simultaneously supports both. The Government stands with young people beginning their professional journeys and encourages institutions that create new employment opportunities.

Sharing the achievements of the scheme, Shri Modi said that nearly 70 lakh new jobs have been created so far and an equal number of first-time employees have been brought under the ambit of social security. He further noted that close to 20 lakh young people have completed six months in their first jobs, while around 10 lakh beneficiaries have already received incentives under the scheme upon completing this milestone. More than ?2,000 crore has been directly transferred to beneficiaries’ bank accounts. Describing this support as more than financial assistance, Shri Modi said it reflects the nation’s recognition of the hard work of its youth and its confidence in their future.

The Prime Minister also expressed satisfaction over the participation of institutions and enterprises that have generated employment opportunities under the scheme. “Employment generation gains momentum when the Government, industry, and youth work together. The initiative is a reflection of a new India where young people receive opportunities, industries receive encouragement, and employment generation becomes a national mission”, Shri Modi noted.

The Prime Minister also drew attention to a significant transformation in India’s employment ecosystem over the past twelve years. “The Government’s focus has been on linking employment with security, dignity, and social protection,” he said. The Prime Minister also highlighted the growing contribution of women to India’s economic and social development. “Reforms relating to night-shift employment, the promotion of work-from-home opportunities, and the strengthening of workplace safety mechanisms are intended to enhance women’s participation in the workforce further”, Shri Modi underscored.

Around 1,200 invitees, including employer and employee beneficiaries, representatives of various stakeholder organisations, and other distinguished guests, attended the main event in New Delhi.

The Prime Minister also interacted with selected beneficiaries representing diverse regions of the country, who shared their experiences about the benefits received under the scheme and the positive impact it has had on their livelihoods, career progression and social security coverage.

In his welcome address on the occasion, Union Minister for Labour & Employment, Dr. Mansukh Mandaviya, said that under the leadership of Prime Minister Shri Narendra Modi, India is witnessing transformative change and moving steadily towards the vision of a Viksit Bharat. He said that prior to 2014, pro-worker reforms were termed ‘anti-industry’, while pro-industry reforms were perceived as ‘anti-worker’. However, under the Prime Minister’s people-centric approach the workers and employers are now recognised as nation-builders and equal partners in India’s growth story.

Highlighting the significance of labour reforms, Dr. Mandaviya said that the coming into effect of the four Labour Codes represents a historic step towards ensuring dignity, security and welfare for workers. Citing data released by the International Labour Organization, Dr. Mandaviya noted that India’s social security coverage has expanded from 19 per cent to 64.3 per cent over the past decade, which is among the highest increases globally. He further highlighted that nearly 17 crore jobs were generated between 2014 and 2024 as against 2.9 crore jobs created during ten years prior to 2014. Quoting recent research, Dr. Mandaviya stated that between 2017 and 2023, India's employment elasticity stood at 1.11, indicating that every 1 percent increase in Gross Value Added was accompanied by a 1.11 percent increase in employment, compared to the employment elasticity of 0.008 recorded under earlier governments. He also drew attention to the decline in India’s unemployment rate which now stands at around 3.1 percent, and is significantly below the global average of 4.8 percent.
The regional programmes at 200 locations witnessed participation from Governors, Chief Ministers, Union Ministers, Deputy Chief Ministers, State Labour Ministers, Members of Parliament, Members of Legislative Assemblies, and senior government officials, apart from employers and employees. Nearly 2 Lakh participants including employees and employers representatives attended the events organised across the country.