The Indian government has introduced several pivotal schemes and policy reforms, with a strong emphasis on employment generation and tax simplification, as highlighted in recent announcements. Prime Minister Narendra Modi, in his Independence Day address, unveiled the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY), a flagship initiative with an outlay of ā¹1 lakh crore aimed at creating approximately 3.5 crore jobs over the next two years. This scheme, effective from August 15, 2025, is designed to incentivize both first-time employees and private sector employers. Under PMVBRY, young individuals securing their first private sector job will receive ā¹15,000 directly from the government. Furthermore, companies that generate sustained employment will be eligible for financial incentives of up to ā¹3,000 per month per new employee, with extended benefits for the manufacturing sector.
Parallel to employment initiatives, the government announced sweeping next-generation Goods and Services Tax (GST) reforms, set to take effect from October 2025. These reforms aim to simplify the tax regime, reduce compliance costs, and make daily essentials and electronics more affordable for citizens. A key proposal involves reducing the current four-slab GST structure to a two-slab system of 5% and 18%, with a long-term vision of achieving a single tax rate by 2047. Government sources indicate that almost all common-use items will likely move to the lower tax bracket, boosting consumption and economic growth.
In other significant developments, the government is actively promoting tribal tourism through new schemes under the Swadesh Darshan and PRASHAD initiatives. A notable sub-scheme, 'Development of Homestays in Tribal Areas' under the Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PM-JUGA), aims to establish 1,000 homestays in tribal villages, offering financial assistance for construction and renovation, and emphasizing technical upskilling for homestay owners. This initiative seeks to provide authentic cultural experiences for tourists while fostering community-based development and livelihood opportunities for indigenous communities.
The Delhi Development Authority (DDA) continued its efforts to streamline property rights in unauthorized colonies by holding Phase 2 camps on August 17, 2025, under the PM-UDAY scheme (Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana). These camps are crucial for helping residents gain legal ownership and access associated benefits like bank loans and civic amenities.
Meanwhile, the PM Vishwakarma Yojana continues to show positive impact, equipping and enhancing the skills of artisans and craftspeople across the country, making them financially self-reliant. Reports from Madhya Pradesh's Damoh district highlight how the scheme has enabled beneficiaries to hone skills and access collateral-free loans for self-employment. However, in a different context, Punjab has witnessed a significant decline of nearly 49% in beneficiaries under the PM-Kisan scheme over the past five years, despite the recent release of its 20th installment.
Further strengthening sectoral policies, Tamil Nadu has sanctioned the Semiconductor Design Promotion Scheme under its Tamil Nadu Semiconductor Mission 2030, aiming to boost the state's fabless design ecosystem through targeted subsidies and prototyping grants.