Prime Minister Narendra Modi, in his 79th Independence Day address from the Red Fort, unveiled the Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY) — a ₹1 lakh crore initiative aimed at generating 3.5 crore employment opportunities for the youth over the next two years.
The scheme, running from August 2025 to July 2027, will provide a one-time incentive of ₹15,000 to young men and women entering their first job in the private sector. Companies creating more jobs will also be rewarded. “From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented,” PM Modi announced to loud applause from the crowd.
He said the Employment Linked Incentive (ELI) component of the scheme would help integrate 1.92 crore first-time workers into the workforce, boosting both employment and productivity.
Alongside the jobs push, the Prime Minister made a significant technological announcement — ‘Made-in-India’ semiconductor chips will hit the market by the end of 2025.
Tracing the history of semiconductor development in India, PM Modi said the idea was conceived 50–60 years ago but languished in government files, costing the country precious decades while other nations built global dominance in the sector. “The idea of semiconductors was practically aborted in its infancy. We lost 50–60 precious years. But now, we are moving ahead in mission mode to develop a strong domestic semiconductor ecosystem,” he asserted.
The twin announcements — a major employment scheme and a semiconductor milestone — underscore India’s bid to position itself as both a global manufacturing hub and a key player in advanced technology.