Releasing an incentive amount of Rs 2,400 crore to 15 lakh first-time employees and their employers, Prime Minister Narendra Modi on Friday said that more than 70 lakh jobs have been created across the country under the 'Pradhan Mantri Vikas Bharat Rozgar Yojana' (PM-VBRY).

This amount will be sent by the government directly to the accounts of the beneficiaries through Direct Benefit Transfer (DBT). While addressing the fund transfer programme, Prime Minister Modi said that when government, youth and industry work together, employment generation increases manifold.

These benefits come with job

He said that not only 70 lakh jobs have been created under this scheme, but social security coverage has also been provided to the beneficiaries. The government encourages institutions and employers that create new jobs. PM-VBRY acts as a 'bridge' between industry and the workforce for first-time job seekers. Prime Minister Modi said, through this scheme we are promoting employment generation, empowering the youth and preparing a strong workforce for the future.

3.5 crore jobs will be available in 2 years

He said that the aspirations, skills and capabilities of the youth decide the direction of developed India. India's youth will play a leading role in driving global development, innovation and entrepreneurship in the coming years. The government has made a provision of Rs 99,446 crore for the 'Pradhan Mantri Vikas Bharat Rojgar Yojana' and has set a target of creating 3.5 crore jobs in two years. Under this scheme, first-time employees are given assistance of up to Rs 15,000, while their employers get an incentive of up to Rs 3,000 per month per new employee. The period of benefits under this scheme, which is run to increase employment in the manufacturing sector, has been extended to four years.