Youth has pivotal role to play in nation emerging as a economic power: MP

Visakhapatnam Member of Parliament M. Sribharat on Friday said that the youth play a pivotal role in transforming India into a developed economic power, asserting that only through high aspirations, continuous skill enhancement, and dedicated hard work will the nation emerge as a global leader.

The MP, along with BJP MLA P. Vishnu Kumar Raju, participated in the disbursing of incentives to beneficiaries of Prime Minister Viksit Bharat Rozgar Yojana in Visakhapatnam on Friday.

Elaborating as to what the scheme is all about, Mr. Sribharat said that the Central government provides an incentive of ₹7,500 to employees who register with EPFO and continue employment for six months. An additional ₹7,500 is provided upon completion of one year, taking the total incentive to ₹15,000. He noted that the scheme also extends incentives to employers hiring new employees, thereby promoting job creation.

Under the scheme, incentives worth ₹2,400 crore have been extended to nearly 15 lakh beneficiaries across the country, the MP said, adding that in the Visakhapatnam region, employees received ₹61.11 lakh under Part A (a worker-focused component) of the scheme, while employers were provided incentives amounting to ₹10.65 crore under Part B, an employer-focused segment of the scheme, to encourage employment generation, the MP added.

Mr. Sribharat highlighted that participation in the formal economy enables young workers to access social security benefits such as ESI, Provident Fund (PF), and health insurance, while also strengthening their eligibility for future financial assistance, including housing loans, vehicle loans, and credit facilities.

He also noted that the Centre has simplified 29 labour laws into four Labour Codes, and that the State government remains committed to their effective implementation.

‘Acquire new skills’

Encouraging the youth to look beyond merely securing employment, he urged them to acquire new skills and strive for higher professional achievements. Referring to the rapidly evolving global economic and geopolitical landscape, he stressed the need for India to strengthen strategic sectors such as energy security and semiconductor manufacturing.

The MP observed that Visakhapatnam is attracting substantial investments and that globally renowned companies are actively seeking talented, skilled, and dedicated young professionals. He called upon the youth of the city to make the best use of emerging opportunities and to demonstrate their capabilities on the global stage.

Congratulating the young professionals who have secured employment, Mr. Sribharat also appreciated the officials and staff of the Employees’ Provident Fund Organisation (EPFO) for successfully organising the programme.

On the occasion, appointment letters were presented to selected candidates who secured placements in reputed organisations, including GITAM Institute, Divi’s Laboratories, and Pfizer.