New Delhi3 minutes ago
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Earlier, PM Modi distributed 51 thousand job letters at the employment fair on July 12.
To increase employment in the country, the Central Government is going to start the Prime Minister’s Developed India Employment Scheme (PM-VBRY) from August 1 today. The purpose of this scheme is to create more than 3.5 crore jobs, as well as to increase formal employees by helping jobs and those who start jobs for the first time.
The Government of India announced the scheme on 23 July 2024 in Union Budget 2024-25 and it was approved by the Cabinet on 1 July. It was first to be applied as Employment Linked Incentive Scheme i.e. ELI, then its name was changed.
Question 1: What is the Pradhan Mantri Developed India Employment Scheme?
answer: Under the Pradhan Mantri Developed India Employment Scheme, the government will pay money to companies and businesses that will give jobs to more and more people. This is a kind of reward (incentive), which will encourage companies to hire new people and make them skilled.
These schemes focus on increasing jobs especially in young people, small-medium enterprises, and different sectors such as manufacturing, services and technology. The scheme will run from 1 August 2025 to 31 July 2027. Due to this, there is a plan to produce more than 3.5 crore jobs in two years.
Question 2: How will this plan work?
answer: This scheme is divided into two parts: Part A for new jobs and Part B for jobs. Come, let’s understand it in easy language …
Part A: Help to those working for the first time
- This part is for those who are starting a job for the first time and registered in EPFO. Such employees will be given the first month salary (maximum ₹ 15,000) in two parts. This benefit will be available to those employees whose salary is up to 1 lakh rupees.
- The first installment will be available after 6 months of job and the second installment will get 12 months after doing jobs and completion of financial literacy programs.
- To increase the habit of savings, some part of this incentive will be placed in a savings account or deposit, which employees can remove later. About 1.92 crore new employees will benefit from this part.
Part B: Support to jobs companies
- This part focuses on producing more jobs in every sector, especially on the manufacturing sector. Companies will get incentives for employees whose salary is up to Rs 1 lakh.
- The government will provide Rs 3,000 per month to the companies for two years, provided the employees were in the job for at least 6 months. These incentives for the manufacturing sector will also be available till the third and fourth year.
- It also has some conditions. Companies registered in EPFO will have to hire at least 2 new employees (for companies with less than 50 employees) or 5 new employees (50 or more employees) for 6 months.
Under Part A, the job will be given all the amount through Direct Benefit Transfer (DBT), in which Aadhaar Bridge Payment System (ABPS) will be used. Payments will be made directly to the bank accounts linked to their PAN under Part B.
Question 3: What is the purpose of this scheme?
answer: The aim is to create more jobs in India, especially in the manufacturing sector. Also, this scheme will promote “Make in India”, improve people’s skills and give them social security (eg pension, insurance).
- Increasing jobs: To create 3.5 crore new jobs in the next two years.
- Skilled youth: Especially preparing youths of 18-35 years for jobs.
- Support msmes: Promote small and medium business, which are the backbone of India’s economy.
- Self -reliant India: To strengthen ‘Make in India’ and make India a global hub of manufacturing.
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