Prime Minister Modi Unveils Major Employment Initiative on Independence Day

Prime Minister Modi's Independence Day Address

During the 79th Independence Day celebrations, Prime Minister Modi raised the national flag for the twelfth consecutive time and outlined the government's plans for technology, energy, and economic reforms.

Launch of the PM Developing India Employment Scheme

In his twelfth Independence Day speech, Prime Minister Narendra Modi announced the launch of the PM Developing India Employment Scheme (PBDP) on Friday. This ambitious employment initiative, valued at ₹1 lakh crore, is set to take immediate effect. The scheme aims to create job opportunities for approximately 3.5 crore young individuals across the nation. Modi stated, "Today, on Independence Day, we are implementing the ₹1 lakh crore PM Developing India Employment Scheme, which will generate employment for nearly 3 crore youths in the country."

Incentives for First-Time Job Seekers

Under this initiative, every young person securing their first job will receive an incentive of ₹15,000. The program is designed to make the job market more accessible and rewarding for newcomers, enabling them to establish themselves in various industries. Additionally, this initiative will provide direct financial assistance of ₹15,000 to promote entrepreneurship, enhance skill development, and foster self-reliance among India's youth.

Upcoming GST Reforms This Diwali

In his Independence Day address, Prime Minister Modi announced that the next generation of GST reforms will be implemented this Diwali. He remarked that after eight years of GST implementation, it is time to review the system. The forthcoming reforms are being presented as a Diwali gift to the people, businesses, industries, and MSMEs. Modi expressed, "This Diwali, I am going to make it a double celebration for you... Over the past eight years, we have made significant improvements to GST... We are bringing in the next generation of GST reforms, which will reduce the tax burden across the country."

India to Launch Semiconductor Chips by 2025

In his Independence Day speech from the Red Fort, Prime Minister Modi announced that India will launch its semiconductor chips by the end of 2025. Focusing on the semiconductor sector, he noted that discussions about establishing semiconductor manufacturing plants began 50-60 years ago but never materialized. He stated, "The idea of a semiconductor factory emerged 50-60 years ago. You would be surprised to know that the concept of semiconductors was stillborn 50-60 years ago. We lost 50-60 years."