Overview
- Prime Minister Narendra Modi will preside over a national event in New Delhi on June 19 to release about ₹2,400 crore by Direct Benefit Transfer to more than 15 lakh PM‑VBRY beneficiaries while regional programmes run at roughly 200 locations.
- PM‑VBRY pays one‑time incentives of up to ₹15,000 to first‑time private‑sector employees in two instalments and wage‑linked support to employers of up to ₹3,000 per new worker per month with extended support for manufacturing firms.
- The scheme uses an EPFO online portal that verifies eligibility by linking EPF accounts to Aadhaar and routes payments through DBT, and employees must complete a financial literacy course to receive the second instalment after 12 months.
- Government data show rapid early uptake with about 60–63 lakh first‑time employees registered so far, nearly 30% of beneficiaries female, and more than 80% of incentivised establishments having fewer than 25 workers.
- The disbursal and outreach are meant to drive formalisation and social‑security coverage for young workers, boost hiring by small firms, and create a short‑term test of retention that will be measurable when six‑ and 12‑month instalments and employer payments are tracked.