Over 70 lakh employed under PM-VBRY so far, say PM; transfers Rs 2,400-cr sops for 15 lakh jobs

India aggressive push for formal employment achieved a major milestone yesterday as Prime Minister Narendra Modi announced that over 70 lakh jobs have been created under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) since its launch in August 2025. The announcement was coupled with the direct transfer of Rs 2,400 crore in incentives, supporting 15 lakh new jobs and underscoring the government's commitment to boosting the formal workforce and expanding social security. This robust progress under PM-VBRY, a scheme with a formidable outlay of Rs 99,446 crore designed to generate 3.5 crore jobs by July 2027, comes amidst ongoing efforts to formalize India vast workforce and drive economic growth. The initiative is strategically aligned with the 'Viksit Bharat' vision, aiming to transition millions of first-time employees into the organized sector and integrate them into the Employees' Provident Fund Organisation (EPFO) framework. Just days prior, the World Bank Group also extended a $1.5 billion financing package to India, specifically backing structural reforms to spur private sector-led job creation, highlighting the critical global and domestic focus on India employment landscape. With India unemployment rate reportedly standing at a healthy 3.1%—well below the global average—the government is now poised to further leverage such employment-linked incentive scheme, particularly in the manufacturing sector which receives extended benefits. The focus remains on sustaining this momentum, enhancing employability through skill development, and ensuring comprehensive social security coverage. The success of PM-VBRY will be a key determinant in India journey toward becoming a developed economy by 2047, with continued monitoring of the 1.92 crore first-time job seeker target over the next year.