The Prime Minister's Package for Employment and Skilling is a comprehensive scheme announced in the Union Budget 2024-25 with a central outlay of ₹2 lakh crore to facilitate employment and skilling opportunities for 4.1 crore youth over a five-year period. It was created to address high youth unemployment and bridge the gap between education and industry requirements, aligning with the vision of Viksit Bharat@2047.
The package operates through five key schemes and initiatives, with a major component being the Employment Linked Incentive (ELI) schemes, collectively named the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY). The PMVBRY is implemented by the Ministry of Labour & Employment through the Employees' Provident Fund Organisation (EPFO), a statutory body under the Employees' Provident Funds & Miscellaneous Provisions Act of 1952.
Key provisions include Scheme A (First Timers), which provides a one-month wage subsidy, up to ₹15,000, in two installments to first-time employees in the formal sector with a salary up to ₹1 lakh per month. Additionally, Scheme C (Support to Employers) offers employers a reimbursement of up to ₹3,000 per month for two years towards their EPFO contribution for each additional employee. The package also includes a new centrally sponsored Skilling Programme with a ₹60,000 crore outlay to skill 20 lakh youth and an Internship in Top Companies scheme offering a ₹5,000 monthly allowance to one crore youth. The PMVBRY component was formally approved by the Union Cabinet on July 1, 2025, with an outlay of ₹99,446 Crore to incentivize the creation of over 3.5 Crore jobs between August 1, 2025, and July 31, 2027.