Prime Minister Narendra Modi launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) incentive scheme during an event at Vigyan Bhawan on June 19, 2026 [1].

The initiative represents a strategic effort by the Indian government to address youth unemployment and bridge the gap between education and industry requirements. By providing financial incentives, the program seeks to encourage businesses to hire and train young workers.

The PM-VBRY scheme is backed by an incentive allocation of ₹2,400 crore [2]. This funding is designed to support employment generation and the scaling of skill development programs across the country.

During the launch in New Delhi, Modi said he interacted with youth participants to discuss the goals of the program [1]. The event served as a platform to outline how the incentives will be distributed to stimulate job growth.

The program focuses on creating a sustainable ecosystem where youth can acquire market-ready skills, while companies receive the necessary support to expand their workforce [2]. This approach aims to accelerate India's progress toward becoming a developed nation by leveraging its demographic dividend.

“The PM-VBRY scheme is backed by an incentive allocation of ₹2,400 crore.”

The launch of the PM-VBRY indicates a shift toward incentive-based employment models in India. By allocating ₹2,400 crore, the government is attempting to lower the risk for employers when hiring inexperienced youth, potentially increasing the formal employment rate and improving the alignment between vocational training and actual industry needs.