PM Modi to Disburse ₹2,400 Crore Under Rozgar Yojana, Boosting Formal Employment

In a major step aimed at strengthening India's formal workforce and accelerating job creation, Prime Minister Narendra Modi will virtually disburse nearly ₹2,400 crore to beneficiaries across the country today under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) . The nationwide programme marks a significant milestone in the implementation of one of the government's most ambitious employment generation initiatives.

The event will be conducted simultaneously at nearly 200 locations across India , covering key industrial and employment hubs. In Raipur , a special programme will be organised by the regional office of the Employees' Provident Fund Organisation (EPFO) at the AIIMS Auditorium, where employers, employees, industry representatives and other stakeholders will participate in the celebrations. Newly recruited workers will also receive appointment letters symbolically, highlighting their entry into the formal economy.

Previously known as the Employment Linked Incentive (ELI) Scheme , PMVBRY has been designed to encourage job creation, improve employability and expand social security coverage across sectors, with particular emphasis on manufacturing. The scheme carries a massive financial outlay of ₹99,446 crore and aims to generate more than 3.5 crore employment opportunities over a two-year period.

A key focus of the programme is supporting young Indians entering formal employment for the first time. The government estimates that nearly 1.92 crore first-time workers will benefit from the initiative. The scheme covers eligible jobs created between August 1, 2025, and July 31, 2027 .

Under the employee-focused component, first-time workers registered with EPFO and earning up to ₹1 lakh per month will receive an incentive equivalent to one month's salary, capped at ₹15,000 . The amount will be released in two installments linked to continued employment and participation in a financial literacy programme. Part of the incentive will also be placed in a savings account to encourage long-term financial security.

The employer component offers incentives of up to ₹3,000 per month per additional employee for two years, rewarding businesses that expand their workforce. Manufacturing sector employers will receive support for an extended period of up to four years.

With direct benefit transfers ensuring transparency and speedy payments, the government hopes the scheme will not only create millions of jobs but also strengthen social security coverage and deepen the country's transition toward a more formal and productive workforce.