Prime Minister Narendra Modi is set to disburse incentives worth approximately ₹2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VIBRY) on June 19, 2025. The scheme, announced in Union Budget 2024-25, targets first-time employees entering the formal workforce. Benefits are routed directly via EPFO-linked accounts. The initiative aims to boost formal employment, reduce informality, and support new entrants in the labour market under India's broader Viksit Bharat 2047 vision.

PM-VIBRY is a demand-side employment incentive scheme designed to reduce the cost of hiring for employers while simultaneously rewarding first-time formal sector employees. It emerged from the Union Budget 2024-25 as part of a five-scheme employment package and is administered through EPFO (Employees' Provident Fund Organisation). The scheme has three components: Scheme A provides one month's wage (up to ₹15,000) directly to first-time employees earning below ₹1 lakh per month; Scheme B offers EPFO contribution incentives for employers hiring first-time employees in manufacturing; and Scheme C supports employers across all sectors for hiring additional workers.

The significance lies in India's structural challenge — a massive informal labour force, a demographic dividend window narrowing by the decade, and persistent low EPFO enrolment. By tying incentives to EPFO registration, the government nudges both employers and workers toward formal employment. The ₹2,400 crore June 2025 disbursement signals early-stage rollout momentum.

For UPSC GS3, this topic intersects employment policy, social security infrastructure, fiscal expenditure on labour welfare, and India's formalisation agenda. The scheme connects to larger debates on jobless growth, gig economy exclusion from social security, and effectiveness of direct benefit transfers in labour markets.