India, Aug. 15 -- In his Independence Day speech from the ramparts of the iconic Red Fort, Prime Minister Narendra Modi announced, among other things, the launch of PM 'Viksit Bharat Rozgar Yojana' to create new employment opportunities for 3.5 crore young Indians.

Under the scheme, which PM Modi said gets going from August 15 itself, newly employed youth will receive Rs.15,000 per month in their first private job.

"Today is 15 August, and we are launching the Rs.1 lakh crore scheme for the youth of this country.in good news for you, PM Viksit Bharat Rozgar Yojana is being rolled out from today," the prime minister said in his Independence Day speech.

There are also incentives for private companies that employ them, according to detail...