Prime Minister Narendra Modi has announced the ₹1 lakh crore (~$11.44 billion) Pradhan Mantri Viksit Bharat Rozgar Yojana in his 12th Independence Day address.
First-time employees will get up to ₹15,000 (~$172) in two instalments, while employers receive up to ₹3,000 (~$34) monthly per new hire.
The scheme also promotes savings, formalisation, and extends social security coverage.