Prime Minister Narendra Modi disbursed incentives totalling Rs 24 billion (bn) under the Pradhan Mantri Viksit Bharat Rozgar Yojana at Vigyan Bhawan in New Delhi, with simultaneous regional events at around 200 venues. The event in the capital was attended by Union and state ministers, senior officials and roughly 1,200 invitees representing employers and employees. The scheme came into effect on 1 August 2025 and is designed to promote formal employment by supporting first-time employees and incentivising employers. Under Part A, first-time employees registered with the Employees' Provident Fund Organisation and earning wages up to Rs 0.1 million (mn) per month are eligible for an incentive equivalent to one month's wage, up to Rs 15,000, paid in two instalments. Under Part B, employers who create additional jobs may receive up to Rs 3,000 per month per additional employee for two years, with manufacturing firms eligible for an extended period. Since the scheme began, more than seven mn first-time employees have entered the formal workforce and equal numbers have been brought under social security coverage. Around two mn workers have completed six months in employment and one mn beneficiaries have received incentives after reaching that milestone. More than Rs 20 bn has been transferred directly to beneficiary accounts. The Union Minister for Labour and Employment noted that the four Labour Codes have strengthened dignity and welfare for workers and that social security coverage rose from nineteen per cent to sixty four point three per cent over the past decade. He said that some 170 mn jobs were generated between 2014 and 2024 and that employment elasticity improved, while the unemployment rate fell to about 3.1 per cent compared with a global average of 4.8 per cent. PM VBRY has a total outlay of Rs 994.46 bn and aims to create more than 35 mn jobs over two years, with around 19.2 mn expected to be first-time entrants. In March 2026, benefits totalling Rs 4.61 bn were disbursed, including Rs 2.47 bn under Part A and Rs 2.14 bn under Part B. The programme was described as a joint effort to support both workers and employers and to advance the government's vision of a developed India.