In a significant announcement during his Independence Day speech from the red Fort on august 15, 2025, indian Prime minister Narendra Modi unveiled the Pradhan Mantri Viksit Bharat Rojgar Yojana, a groundbreaking Rs 1 lakh crore initiative aimed at enhancing youth employment opportunities. This ambitious scheme targets the creation of 3.5 crore new jobs, offering Rs 15,000 directly to young individuals entering their first private-sector positions. Additionally, companies that hire more youth will receive financial incentives, emphasizing the vital role of private enterprises in job creation.
Modi further addressed India’s semiconductor ambitions, acknowledging previous setbacks in the sector. He asserted that efforts are now underway to establish a robust semiconductor industry in "mission mode," with "Made in India" chips expected to launch by the end of the year. This initiative aligns with global trends toward tech nationalism, aiming to reduce import dependency and attract investments in chip manufacturing.
In tandem with employment and technology initiatives, Modi also promised a comprehensive overhaul of the Goods and services Tax (GST) by Diwali. He described the upcoming reforms as a "bahut bada tohfa"—a significant gift for citizens—intended to simplify the tax structure and alleviate compliance burdens, particularly for small and medium enterprises (SMEs).
With over 220 million youth projected to enter the workforce by 2030, the launch of the Pradhan Mantri Viksit Bharat Rojgar Yojana, alongside the semiconductor mission and GST reforms, represents a multi-faceted strategy to empower India's youth, enhance technological sovereignty, and promote economic inclusivity. This Independence Day, the nation received not just a promise of economic empowerment, but a roadmap toward self-reliant progress.
Disclaimer: This content has been sourced and edited from Indiaherald. While we have made adjustments for clarity and presentation, the unique content material belongs to its respective authors and internet site. We do not claim possession of the content material..jpg)
click and follow Indiaherald WhatsApp channel