GOVERNMENT / POLITY
Policies
PM-VBRY Marks One Year of Execution with 72 Lakh First-Time Formal Workforce Entrants
The Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) completed its first year on 1 August 2026, recording over 72 lakh first-time employees joining the formal workforce.
With an overall budgetary allocation of ₹99,446 crore, the scheme spans a two-year implementation window from 1 August 2025 to 31 July 2027.
Operated under the Ministry of Labour & Employment through the Employees' Provident Fund Organisation (EPFO), the scheme has provided incentives to over 15 lakh beneficiaries, nearly 30% of whom are women.
PM-VBRY operates via two pillars: Part A delivering direct assistance up to ₹15,000 for first-time workers (gross wage ≤ ₹1 Lakh), and Part B giving monthly employer incentives up to ₹3,000 per additional job created.
With an overall budgetary allocation of ₹99,446 crore, the scheme spans a two-year implementation window from 1 August 2025 to 31 July 2027.
Operated under the Ministry of Labour & Employment through the Employees' Provident Fund Organisation (EPFO), the scheme has provided incentives to over 15 lakh beneficiaries, nearly 30% of whom are women.
PM-VBRY operates via two pillars: Part A delivering direct assistance up to ₹15,000 for first-time workers (gross wage ≤ ₹1 Lakh), and Part B giving monthly employer incentives up to ₹3,000 per additional job created.
Key Facts / Static GK
Scheme Outlay: ₹99,446 crore
Nodal Ministry: Ministry of Labour & Employment (MoL&E)
Implementing Agency: Employees' Provident Fund Organisation (EPFO)
EPFO Headquarters: New Delhi
Nodal Ministry: Ministry of Labour & Employment (MoL&E)
Implementing Agency: Employees' Provident Fund Organisation (EPFO)
EPFO Headquarters: New Delhi
Practice Quiz — 5 August 2026
Q1. Which of the following statements regarding the RBI's updated Bulk Deposit Interest Rate Directions 2026 is/are correct?
Answer: (B) Both statements I and II are correct — Statement I: The framework allows differential rates on bulk deposits based on LCR run-off rates from October 1, 2026. Statement II: Commercial banks and SFBs share a bulk deposit threshold of ₹3 crore, while RRBs have a threshold of ₹1 crore.
Q2. Under the revised CGSMFI 2.0 guidelines, what is the mandatory minimum combined allocation percentage of guarantee cover reserved for small and medium MFIs?
Answer: (C) 15% — Banks must now allocate at least 15% of the total guarantee cover under CGSMFI 2.0 to small and medium-sized MFIs, replacing the previous segregated structure of 5% and 10%.
Q3. Which agency constructed the new Income Tax Department office complex 'Aayakar Sindhu' inaugurated in Mumbai?
Answer: (B) Central Public Works Department (CPWD) — The 'Aayakar Sindhu' office complex in Nariman Point, Mumbai, was constructed by the Central Public Works Department (CPWD).
Q4. Which Non-Banking Financial Company (NBFC) has partnered with Flipkart as the principal lending partner for 'Flipkart Pay Later'?
Answer: (B) PayU Finance — PayU Finance, the NBFC arm of PayU, serves as the primary licensed lender for the Flipkart Pay Later digital credit solution.
Q5. Which founding document led to the formal establishment of the Arctic Council in 1996?
Answer: (B) Ottawa Declaration — The Arctic Council was officially established in 1996 through the adoption of the Ottawa Declaration.
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