Hon’ble Prime Minister Shri @narendramodi to disburse incentives worth ₹2,400 crore to beneficiaries under the Pradhan Mantri Viksit Bharat Rozgar Yojana.
To know more, visit:🔗 pmvbry.labour.gov.in
VER THE past 12 years, under the leadership of Prime Minister Narendra Modi, India has undergone a remarkable transformation driven by empowerment, good govern-ance, and inclusive development. From being counted among the Fragile Five economies in 2013, it has emerged as the fastest-growing major economy, built one of the largest start-up ecosystems, be-come a leader in digital public infrastruc-ture, and strengthened its standing on the global stage.
At the heart of this transformation is India’s yuva shakti. Recognising the po-tential of the demographic dividend, the government has launched transformative initiatives like Make in India, Digital India, Startup India, Skill India, PM Mudra Yojana, and the National Career Service portal. Combined with invest-ments in infrastructure, innovation, and technology, these have expanded oppor-tunities for employment, entrepreneur-ship, and skill development.
India’s growth story is also a story of rising employment. Research shows that between 2017-18 and 2023-24, India’s em-ployment elasticity stood at 1.11, meaning that every 1 per cent increase in Gross Value Added was accompanied by a 1.11 percent rise in employment. This marks a sharp improvement over the employ-ment elasticity of 0.008 between 2011-12 and 2017-18.
According to RBI KLEMS data, more than 17 crore jobs were created between 2014 and 2024, compared to 2.9 crore dur-ing 2004-14. The employment rate in-creased from 46.8 percent in 2017-18 to 57.4 percent in 2025, while unemploy-ment declined to around 3.1 percent, below the global average of 4.8 percent. EPFO payroll data further indicate that more than 8 crore formal-sector jobs were added between 2017 and 2025.
The story of New India is equally about ensuring people are protected through a robust social-security system. Social-security coverage increased from 25 crore people (19 per cent of the population) in 2015 to more than 94 crore (64.3 per cent) in 2025. In recognition of this achievement, India received the Interna-tional Social Security Association’s Award
for Outstanding Achievement in Social Security in 2025.
The Modi government, in the first budget of its third term, introduced the most ambitious employment initiative in independent India’s history: The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY). With an outlay of nearly Rs 1 lakh crore, PMVBRY aims to support the creation of more than 3.5 crore employ-ment opportunities over two years. Under Part A of the scheme, first-time em-ployees receive financial assistance of up to Rs 15,000 in two instalments. Under Part B, employers receive incentives of up to Rs 3,000 per employee per month for every additional worker employed. It pro-vides incentives for up to four years to eli-gible manufacturing employers and for up to two years in other sectors. By put-ting money directly into workers’ pockets, PMVBRY rewards work, makes jobs more attractive, and helps families remain fi-nancially secure. Financial incentives for employers can generate positive cyclical impacts on industrial growth.
PMVBRY’s success is now being marked through a nationwide event. Today, Prime Minister Modi will disburse incentives worth Rs 2,400 crore to 15 lakh beneficiaries through direct benefit transfer. Simultaneously, events across 200 major industrial clusters will see appointment letters distributed to bene-ficiaries, and employers felicitated for cre-ating opportunities.
of As India moves towards the centenary Independence, it is sending a clear message to the world: Its greatest strength is its young population. Twelve years of re-forms have been driven by a strong part-nership between employees and em-ployers. The Modi government has recognised both as equal partners in na-tion-building, ensuring workers are pro-tected, enterprises are empowered, and the benefits of growth are widely shared.
As India advances towards Viksit Bha-rat, employees and employers will con-tinue to serve as the twin engines of growth, prosperity, and opportunity. “Rozgar ho ya karobaar, saath hai Bharat sarkar.”
Mansukh Mandaviya
The writer is Union Minister of Labour & Employment and Youth Affairs & Sports