How Does PMVBRY Plan to Create Over 3.5 Crore Jobs in 2 Years?
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Synopsis
The PMVBRY initiative by the Indian government is an ambitious plan to create over 3.5 crore jobs in just 2 years. The scheme, with a budget of Rs 99,446 crore, aims to support new and existing employees while providing substantial incentives to employers. This could potentially reshape the employment landscape in India.
Key Takeaways
- PMVBRY aims to create 3.5 crore jobs in 2 years.
- Budget allocation of Rs 99,446 crore.
- Incentives for first-time employees and employers.
- Registration period from August 1, 2025, to July 31, 2027.
- Focus on MSMEs and rural enterprises.
New Delhi, Dec 19 (NationPress) The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) is set to promote the generation of over 3.5 crore jobs nationwide within a span of two years, as announced by the government. The financial allocation for this initiative stands at Rs 99,446 crore. Minister of State for Labour and Employment, Shobha Karandlaje, informed the Rajya Sabha that under ‘Part A’ of the initiative, first-time employees from both new and existing businesses will qualify for an incentive equivalent to one month’s Employees' Provident Fund (EPF) wage, capped at Rs 15,000.
This incentive will be disbursed in two phases during the initial year of employment. The first payment, up to Rs 7,500, will be issued following six months of continuous employment.
“Eligibility for the second payment will arise after completing twelve months of employment and finishing the mandated Financial Literacy Programme,” the minister added.
The second payment will be credited into a designated savings instrument or account for a predetermined duration. ‘Part B’ encourages employers with an incentive of up to Rs 3,000 monthly for each additional job sustained for a minimum of six months.
On July 1, 2025, the Union Cabinet approved the Employment Linked Incentive (ELI) Scheme, dubbed PMVBRY, aimed at fostering job creation, improving employability, and bolstering social security across all sectors, especially in MSMEs and rural enterprises, with a special emphasis on the manufacturing sector.
The incentives are applicable to jobs created during the two-year registration window from August 1, 2025, to July 31, 2027.
The Aatmanirbhar Bharat Rojgar Yojana (ABRY) was initiated on October 1, 2020, to incentivize employers to generate new jobs and restore employment losses caused by the Covid-19 pandemic.
“The registration deadline for beneficiaries was March 31, 2022. Those registered by this date have received benefits for two years from their registration date. Since the program's launch, as of March 31, 2024, benefits have been provided to 60.49 lakh beneficiaries nationwide,” the minister noted.
Point of View
I believe that the PMVBRY initiative represents a significant step towards enhancing employment opportunities across India. With a focus on MSMEs and rural enterprises, this program could play a pivotal role in economic recovery and growth, especially in the wake of challenges posed by the pandemic. It is essential for us to monitor its implementation and impact closely.
NationPress
21/12/2025
Frequently Asked Questions
What is PMVBRY?
The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) is a government initiative aimed at creating over 3.5 crore jobs across India in two years.
What are the incentives provided under PMVBRY?
Incentives include one month’s EPF wage for first-time employees and monthly support for employers hiring additional staff.
What is the budget for PMVBRY?
The scheme has a budgetary outlay of Rs 99,446 crore.
When does the registration period for jobs under PMVBRY start?
The registration period begins on August 1, 2025, and ends on July 31, 2027.
How many beneficiaries have received support from previous schemes?
As of March 31, 2024, benefits have been provided to 60.49 lakh beneficiaries under the Aatmanirbhar Bharat Rojgar Yojana.
