New Delhi, Aug. 15 -- Prime Minister Narendra Modi announced the launch of Pradhan Mantri Viksit Bharat Rojgar Yojana on Friday, Speaking from the ramparts of the Red Fort on the occasion of the 79th Independence Day, PM Modi said he is launching "a Rs. 1 lakh crore scheme for the youth of our nation."

What Pradhan Mantri Viksit Bharat Rojgar Yojana? What are the benefits? And how to apply: Here's all you need to know:

The Pradhan Mantri Viksit Bharat Rojgar Yojana provides incentive to first-time employees and employers.

PM Modi said that under this scheme, young people getting their first job in the private sector will receive an amount of Rs.15,000 from the government.

Meanwhile, companies creating new employment opportunities will...