Paid to hire, paid to work: Inside India’s Rs 99,446 cr plan to reshape formal workforce

Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) is introduced to enhance formal employment across various sectors. The scheme includes financial incentives for both employers and first-time employees entering the formal job market. PMVBRY aims to create more than 3.5 crore jobs including 1.92 crore first-time workers by 2027. It targets an increase in manufacturing employment with unique incentives for the sector.