New Delhi: The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) aims to incentivise creation of more than 3.5 crore jobs across the country over a period of 2 years, according to the government.
The budgetary outlay of the scheme is Rs 99,446 crore. Minister of State for Labour and Employment, Shobha Karandlaje, said in Rajya Sabha that under ‘Part A’ of the scheme, the first-time employees of both existing and new establishments shall be eligible for an incentive equivalent to one month’s Employees’ Provident Fund (EPF) wage, subject to a maximum of Rs 15,000.
This incentive will be payable in two installments during the first year of employment. The first instalment, up to Rs 7,500, will be disbursed after completion of six months of continuous employment.
“Eligibility for the second instalment shall arise after completion of twelve months of employment and successful completion of the prescribed Financial Literacy Programme,” said the minister.
This second instalment will be credited to an appropriate savings instrument/saving account for a specified period. ‘Part B’ incentivises employers by providing up to Rs 3,000 per month for each additional employment sustained for at least six months.
The Union Cabinet, on July 1 2025, approved the Employment Linked Incentive (ELI) Scheme, titled PMVBRY, to promote employment generation, enhance employability, and strengthen social security across all sectors including MSMEs and rural enterprises, with a particular focus on the manufacturing sector.
The incentives under the scheme are applicable to jobs created during the two-year registration period commencing from August 1, 2025 and ending on July 31, 2027.
The Aatmanirbhar Bharat Rojgar Yojana (ABRY), was launched with effect from October 1, 2020, to incentivise employers for creation of new employment and restoration of loss of employment during Covid-19 pandemic.
“The terminal date for registration of beneficiaries was 31.03.2022. The beneficiaries registered upto March 31, 2022 received the benefits for 2 years from the date of registration under the scheme. Since the inception of the scheme, as on 31.03.2024, benefits have been provided to 60.49 lakh beneficiaries in the country,” informed the minister.
(IANS)
