Answer: Pradhan Mantri Viksit Bharat Rozgar Yojana
Notes: The Prime Minister recently announced the Pradhan Mantri Viksit Bharat Rozgar Yojana to boost formal job creation. The scheme aims to create over 3.5 crore jobs in two years. It provides direct cash incentives to both employees and employers. Part A supports first-time employees registered with Employees’ Provident Fund Organisation (EPFO) with one-month EPF wage up to Rs. 15,000 in two instalments after 6 and 12 months along with a financial literacy programme. Part B gives incentives to employers up to Rs. 3000 per employee per month for two years and for the manufacturing sector the support continues for the 3rd and 4th year. The scheme will also formalize the workforce and expand social security coverage for crores of youth.
