PM Modi announces ₹1 lakh crore job scheme: ₹15,000 for first private-sector job

On the occasion of India’s 79th Independence Day, Prime Minister Narendra Modi unveiled a landmark ₹1 lakh crore employment scheme aimed at empowering the youth and boosting private-sector job creation. Speaking from the historic Red Fort, PM Modi launched the Pradhan Mantri Viksit Bharat Rojgar Yojana, a programme designed to provide financial assistance and incentives to both jobseekers and companies.

PM Modi’s Big Independence Day Announcement

Youth Employment Push

In his address, Prime Minister Narendra Modi said:

“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 ₹15,000 directly from the government as a one-time benefit.

Incentives for Employers

Along with youth benefits, PM Modi added:

“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.”

This dual structure aims not only to help fresh jobseekers but also to encourage private companies to expand hiring.

Key Features of the Pradhan Mantri Viksit Bharat Rojgar Yojana

• Total Scheme Outlay: ₹1 lakh crore allocated for implementation.

• Direct Support to Youth: First-time employees in the private sector will receive financial assistance of ₹15,000.

• Incentives for Employers: Companies generating fresh employment opportunities will be given rewards and benefits.

• Job Creation Potential: The scheme is projected to generate around 3.5 crore new employment opportunities for young Indians.

“The Pradhan Mantri Viksit Bharat Rojgar Yojana scheme will create nearly 3.5 crore new employment opportunities for the youth,” PM Modi said.

Focus on Technology and Semiconductor Mission

PM Modi also stressed India’s renewed focus on technology-driven industries, particularly the semiconductor sector.

He recalled how India missed earlier opportunities:

“The idea of semiconductor factory came forth 50–60 years ago. You would be surprised to know that the idea of semiconductor was killed in the womb 50–60 years ago. We lost 50–60 years.”

Now, the government is working in “mission mode” to strengthen domestic chip manufacturing.

“We are working on semiconductors on Mission Mode... By the end of this year, Made in India semiconductor chips, made by the people in India, will hit the market,” he said.

This marks a significant step towards reducing reliance on global chipmakers and positioning India as a semiconductor hub.

Major Tax Reforms Coming This Diwali

Alongside employment and technology initiatives, PM Modi announced the next big step in GST reforms.

Promising a simplified tax system, he said:

“By this Diwali, you will see a new, simplified GST structure that makes life easier for the common man and strengthens our economy.”

The new GST framework, expected to be rolled out by October 2025, will:

• Simplify tax slabs

• Enhance compliance

• Make transactions easier for individuals and businesses

PM Modi described it as a “bahut bada tohfa” (big gift) for citizens ahead of the festive season.

Conclusion

The launch of the Pradhan Mantri Viksit Bharat Rojgar Yojana marks a historic step in India’s journey toward youth empowerment and economic growth. By directly offering ₹15,000 to freshers entering the private workforce and incentivising companies to create more jobs, the scheme aims to tackle both sides of the employment challenge. Combined with semiconductor development and GST reforms, the government’s roadmap highlights a forward-looking vision — one that embraces technology, eases taxation, and ensures millions of young Indians find sustainable employment opportunities.