PM-VBRY Adds Over 72 Lakh Workers to Formal Workforce in First Year
The Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY) has made significant strides in its first year, with over 72 lakh workers joining the formal workforce. This initiative aims to generate employment for over 3.5 crore people, including 1.92 crore first-time employees.
The scheme encourages young people to enter the organised workforce through Employees' Provident Fund Organisation (EPFO) registration and expands social security coverage across various sectors, particularly labour-intensive manufacturing. It complements the National Manufacturing Mission by promoting employment in new and expanding industries.
Nearly 30 per cent of beneficiaries are women, and more than 15 lakh beneficiaries have already received employment-linked incentives under the scheme. The programme offers a one-time incentive equal to one month's EPF wage, capped at Rs 15,000, for first-time employees earning up to Rs 1 lakh per month.