Prime Minister Narendra Modi on Saturday said that India is rapidly moving towards becoming the world’s third-largest economy, adding that the country has made progress across every sector in the last 11 years.

Speaking at the 16th edition of the Rozgar Mela, the Prime Minister said that India’s manufacturing sector is one of its “greatest strength” and that the government has taken steps to boost employment in the private sector.

“The focus of the Indian government is also on creating new employment opportunities in the private sector. Recently, the government has approved a new scheme – the Employment Linked Incentive scheme. Under this scheme, the government will provide ₹15,000 to youth securing their first job in the private sector, meaning the government will contribute to the first salary of their first job. For this, the government has allocated a budget of about ₹1 lakh crore, and this scheme will help in creating approximately 3.5 crore jobs,” he said.