Prime Minister Narendra Modi 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 on June 19, 2026. The event was attended by Union Minister of Labour & Employment Dr. Mansukh Mandaviya, Minister of State Ms. Shobha Karandlaje, and senior officials, with simultaneous events organized at approximately 200 locations across the country.
PM-VBRY, which came into effect on August 1, 2025, is designed to promote formal employment and incentivize job creation with a total outlay of ₹99,446 crore aiming to facilitate creation of more than 3.5 crore jobs over a two-year period. Under Part A of the scheme, first-time employees registered with EPFO and earning wages up to ₹1 lakh per month are eligible for an incentive equivalent to one month's wage, up to ₹15,000, in two installments. Under Part B, employers generating additional employment are eligible for incentives of up to ₹3,000 per month per additional employee for two years, with manufacturing sector employers eligible for an additional two years of incentives.
The scheme has demonstrated significant early success, with more than 70 lakh first-time employees brought into the formal workforce since August 2025, with women accounting for nearly 30% of beneficiaries. Employees who remain in continuous employment for more than six months become eligible to receive benefits. In March 2026 alone, benefits amounting to ₹461 crore were disbursed - ₹247 crore to 4.41 lakh first-time employees under Part A, and ₹214 crore to 17,551 establishments that generated additional employment of approximately 6.46 lakh workers under Part B.
Prime Minister Modi emphasized that the scheme strengthens aspirations of young people entering their first jobs while creating a robust bridge between industry and workforce. He noted that nearly 20 lakh young people have completed six months in their first jobs, while around 10 lakh beneficiaries have already received incentives upon completing this milestone, with more than ₹2,000 crore directly transferred to beneficiaries' bank accounts.
Union Minister Dr. Mansukh Mandaviya highlighted significant employment achievements, stating that 17 crore jobs were generated between 2014 and 2024 compared to 2.9 crore jobs created during the ten years prior to 2014. He cited India's employment elasticity of 1.11 between 2017-2023, indicating that every 1 percent increase in Gross Value Added was accompanied by a 1.11 percent increase in employment. India's unemployment rate now stands at around 3.1 percent, significantly below the global average of 4.8 percent. Social security coverage has expanded from 19 percent to 64.3 percent over the past decade, among the highest increases globally.
The programme also highlighted reforms relating to night-shift employment, promotion of work-from-home opportunities, and strengthening of workplace safety mechanisms to enhance women's participation in workforce. The four Labour Codes coming into effect represent a historic step toward ensuring dignity, security and welfare for workers.