Pradhan Mantri Viksit Bharat Rozgar Yojana: A Step Towards Public Prosperity
India’s Economic Progress and Employment Expansion
• India’s economic growth has been fueled by its human resource strength.
• The country has risen from the world’s 10th largest economy in 2014 to the fourth largest today.
• Employment has expanded significantly, with over 17 crore jobs created in the decade following the economic growth.
Social Security Coverage
• India’s social security coverage has significantly improved, from 19% in 2015 to 64.3% by 2025.
• This expansion makes India the second-largest social security system globally.
India’s Demographic Divide
• About 65% of India’s population is under 35 years old, a critical demographic dividend.
• The government aims to make youth employable, integrate them into the formal economy, equip them with financial literacy, and ensure they are protected by a robust social security net.
Pradhan Mantri Viksit Bharat Rozgar Yojana
• Launched in the Union Budget 2024-25, the most ambitious programme in India’s history, expected to create over 3.5 crore jobs over two years.
• The scheme addresses the dual challenge of youth employment and enterprise competitiveness simultaneously.
• Benefits will be channelled through Direct Benefit Transfer, ensuring transparency and linking new workers to social security systems.
The Scheme Signals a Shift from Scheme-based Interventions
• The scheme signals a shift from scheme-based interventions towards a comprehensive employment ecosystem.
• It builds on the learnings of earlier initiatives and recognizes that job creation is a shared responsibility.
A New India
• The scheme is a concrete step towards converting the demographic dividend into public prosperity.
• It reaffirms the Modi government’s commitment to support every aspiration and youth.
India Public Prosperity Initiatives is important topic for Civil service exam (WBCS).
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