On the occasion of Independence Day, Prime Minister Narendra Modi launched the ‘Pradhan Mantri Viksit Bharat Rozgar Yojana,’ a scheme designed to encourage employment in the private sector. The scheme will provide ₹15,000 from the government to young men and women obtaining their first job in the private sector. The total value of the scheme is ₹1 lakh crore and is expected to be active immediately, benefiting an estimated 3.5 crore people. Modi’s speech at the Red Fort also highlighted the economic contributions of farmers and the empowerment of women. Furthermore, the Prime Minister promised significant reforms to the Goods and Services Tax (GST) by Diwali, with the intention of simplifying the tax system and reducing costs for consumers. The reforms are intended to bring relief to households.
