India's PMVBY far from 35 million jobs target, 4.4L placed
The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) set out last August with big plans: 35 million new jobs by July 2027.
But about eight months in, it's only hit 10% of its quarterly hiring goal, helping about 4.4 lakh people land jobs so far.
The government has rolled out ₹465 crore in incentives across around 18,000 establishments, but the numbers are still lagging.
West Asia conflicts curb India's hiring
Global conflicts, especially in West Asia, are making things tougher for India's formal job market.
Even with PMVBRY's financial perks (like up to ₹15,000 EPF reimbursements and monthly incentives for employers for each additional employee), many companies just aren't able to keep up steady hiring.
The scheme is managed by the Employees's Provident Fund Organisation (EPFO), but meeting those ambitious targets is proving harder than expected.