Rs 15,000 for youth entering private jobs: PM Modi announces employment scheme - Here’s everything you need to know

During his address to the nation on the 79th Independence Day of India at Red Fort, Prime Minister Narendra Modi announced ‘Pradhan Mantri Viksit Bharat Rozgar Yojana’, a new jobs scheme aimed to provide assistance of Rs 15,000 for youth entering the private sector job market for the first time. More than 35 million young individuals are expected to benefit from the initiative worth Rs 1 lakh crore.

“My country’s youth, today is 15th August, and on this very day, we are launching a scheme worth Rs 1 lakh crore for the youth of our country. From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented... Under this scheme, young men and women getting their first job in the private sector will receive Rs 15,000 from the government. Companies that create more employment opportunities will also be given incentive amounts. The Pradhan Mantri Viksit Bharat Rojgar Yojana will create nearly 3.5 crore new employment opportunities for the youth,” Modi said.

PM Modi also hailed the contributions of farmers to the Indian economy. “Farmers contribute a lot to our economy, they have made India a top producer of several commodities,” he said, adding that he is “standing like a wall to protect the interests of farmers and fishermen from any unfriendly policies.”

The prime minister announced a big Diwali gift for Indian citizens, saying that the government will roll out the next generation of Goods and Services Tax (GST) reforms by Diwali this year. The reforms are aimed at rationalising tax slabs and reducing GST rates on essential and everyday-use items to provide relief to households and boost consumption.

“By this Diwali, you will see a new, simplified GST structure that makes life easier for the common man and strengthens our economy,” PM Modi said, adding that the changes will also improve compliance and transparency.