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Labour Minister Mansukh Mandaviya
The Indian government has employed over 1.1 million youth in the last 16 months, said Union Minister of Labour and Employment Mansukh Mandaviya while addressing the Lok Sabha on August 4.
"I would also like to state that if we look at the 10 years of the UPA government, only 30 million jobs were created during that decade… but according to the Reserve Bank of India’s estimates, more than 170 million youth have secured jobs and employment in the last 10 years (under Modi government)," the minister said.
"This is a result of our government's pro-youth policies," he said, adding that the Indian government had also prepared an action plan for employment for the next five years.
Pradhan Mantri Viksit Bharat Rozgar Yojana
When Modi 3.0 began, the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) was one of its first initiatives, aiming to create more than 40 million jobs over the next five years, with an estimated expenditure of over Rs 2 lakh crore.
"This scheme is yielding very good results today and will make a significant contribution to the creation of 40 million new jobs in the country in the coming days," Minister Mansukh Mandaviya said.
The PM-VBRY or the Employment Linked Incentive (ELI) scheme was initiated on August 1.
Under the scheme, first-time employees will get a month’s wage (up to Rs 15,000) and the employers will be given incentives for two years for generating additional employment, with extended benefits for another two years for the manufacturing sector.
With an outlay of Rs 99,446 Crore, the ELI scheme aims to incentivise the creation of more than 3.5 crore jobs in the country over two years. Out of these, 1.92 crore beneficiaries will be entering the workforce for the first time. The scheme’s benefits would apply to jobs created between August 1, 2025 and July 31, 2027.