PM’s large youth program offers Rs 15,000 from the government upon securing one’s first private sector employment.

On India’s 79th Independence Day, Prime Minister Narendra Modi spoke to the country from the Red Fort and unveiled a Rs 1 lakh crore employment program designed to help young people begin their first jobs in the private sector.

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…

The new programme, called Pradhan Mantri Viksit Bharat Rojgar Yojana, will provide Rs 15,000 directly from the government to young men and women when they get their first job in the private sector. Companies that create more employment opportunities will also receive incentives under the scheme.

“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,” PM Modi said in his Independence day speech.

“The Pradhan Mantri Viksit Bharat Rojgar Yojana scheme will create nearly 3.5 crore new employment opportunities for the youth,” PM Modi said, adding that the plan will not only benefit jobseekers but also encourage private companies to hire more workers.

The prime minister also discussed the government’s emphasis on technology in addition to the employment drive. He highlighted the semiconductor sector as a key area of growth, recalling that India had missed earlier opportunities decades ago. “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,” he said.

Regarding tax reforms, Prime Minister Modi stated that the government will begin the subsequent phase of modifications to the Goods and Services Tax (GST) by October, which is Diwali this year.

He said the reforms will streamline the GST system, increase compliance, and make transactions easier for both individuals and businesses, promising what he called a “bahut bada tohfa” (great gift) for citizens.

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