On India’s 79th Independence Day, Prime Minister Narendra Modi used his landmark Red Fort address to launch the Pradhan Mantri Viksit Bharat Rozgaar Yojna—a ₹1 lakh crore employment scheme set to transform India’s job and skill development landscape. Effective from August 15, the scheme will benefit over 3.5 crore youth by targeting both urban and rural markets for job creation and skill enhancement, aiming to build an Atmanirbhar (self-reliant) Bharat.
What the New Scheme Offers
- Direct financial support: Every first-time jobseeker in the private sector will receive ₹15,000 in aid—credited after completing six months and again on finishing a year with financial literacy training.
- Employer incentives: Companies providing new jobs will be eligible for government incentives, including up to ₹3,000/month per employee subsidy for manufacturers for two years, possibly extending for loyal job creators.
- Skill focus: The scheme will upskill youth in growth sectors—manufacturing, tourism, green energy, technology, and AI—via advanced courses and funding for start-ups and small enterprises.
Building on New-Age Skill & Unemployment Initiatives
While classic schemes like MNREGA and PMEGP set the foundation, the government in recent years has launched integrated programs for broader impact:
- Skill India Digital Hub (launched 2023): A convergence platform offering 690+ online courses and 1,650+ skill e-books, supporting over 60 lakh learners and 8.4 lakh app downloads since inception. It brings together skilling, credit, and jobs, plus integrations with key government services.
- Skill India Programme (2024–2026): Now merged with Pradhan Mantri Kaushal Vikas Yojana 4.0, PM-NAPS, and Jan Shikshan Sansthan for streamlined skill training. Focused on AI, 5G, cybersecurity, and other modern verticals, with a national pool of certified trainers for quality assurance.
- PM Vishwakarma and PM-JANMAN: Targeted skill and entrepreneurship efforts for niche groups, including tribal and traditional artisans. Over 5,096 tribal beneficiaries were trained by March 2024, with rollout targeting 44,608 by 2026.
- Unemployment Support (2025): Schemes such as PM-SYM provide voluntary contributory pensions for unorganized workers, while youth can tap into PMKVY 4.0 for free courses and monetary rewards on completion.
Economic Perspective: Ambitions for Developed Nation Status
In his speech, PM Modi reaffirmed his bold vision for India to become a developed nation by 2047, highlighting:
- Robust economic growth: India is poised to soon become the world’s third-largest economy, with stable macro indicators, controlled inflation, strong forex reserves, and positive global ratings.
- GST Reforms: Major GST rationalization is set to roll out by Diwali, promising lower taxes on daily essentials, providing relief to households and a boost for MSMEs.
- Women Empowerment: Over 2 crore ‘lakhpati didis’ have emerged from self-help groups, showcasing how schemes are generating actual income and social mobility for women across the country.
- Opportunities for youth: Expansion of internships, self-employment, and skill training alongside a golden window in the next five years.
Looking Ahead: Potential Impact & Key Takeaways
With its expansive scope, direct financial support, and push for high-tech skills, the Pradhan Mantri Viksit Bharat Rozgaar Yojna stands out as a future-focused reform. Success will hinge on rapid onboarding, coordination with private sector partners, and outcome-centric tracking.
If executed well, the scheme could bridge unemployment gaps, boost new-age entrepreneurship, and accelerate India’s journey toward developed nation status within a generation.
Watch Prime Minister’s speech from Red Fort:
