Pradhan Mantri Viksit Bharat Rozgar Yojana Falls Short of Job Creation Targets
PM jobs scheme meets just 10% of target in 6 months
The Economic TimesImage: The Economic Times
The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) has created only 0.44 million jobs in its first six months, achieving just 10% of its target. The scheme, which aims to create 35 million jobs by July 2027, is facing challenges due to external factors affecting hiring.
- 01PMVBRY created only 0.44 million jobs in six months, 10% of the target.
- 02The government disbursed ₹465 crore in incentives for job creation.
- 03The scheme aims to create 35 million jobs by July 2027.
- 04Concerns over job creation growth due to the ongoing conflict in West Asia.
- 05Employers must hire additional employees to benefit from the scheme.
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The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY), launched in August 2025, has so far benefited 0.44 million first-time employees, achieving only 10% of its target of creating 35 million jobs by July 2027. The government has disbursed ₹465 crore in incentives to support job creation for approximately 441,000 employees across 18,000 establishments. The scheme, administered by the Employees' Provident Fund Organisation (EPFO), offers financial incentives to both employees and employers. However, concerns are rising that the ongoing conflict in West Asia may hinder job creation efforts, as many establishments are pausing new hiring. The PMVBRY aims to create an average of 4.4 million jobs per quarter, but the current pace suggests a significant slowdown. Employers must meet specific hiring criteria to qualify for the incentives, which include reimbursing EPF wages and providing sustained employment for additional employees.
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The slow job creation under PMVBRY could lead to fewer employment opportunities for job seekers, affecting overall economic growth.
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