It will allow Indian youth to serve in the armed forces for four years.
The scheme aims to bring about a transformational shift towards more tech-savvy armed forces by hiring youngsters who are in tune with contemporary technological trends.
Recruits will get an attractive monthly package along with risk and hardship allowances.
A non-contributory life insurance cover of Rs 48 lakh is to be provided to all recruits for the duration of the engagement period.
Up to 25 percent of each batch of Agniveers will be enrolled as a regular cadre of the armed forces.
Enrolment will be undertaken through a centralized online system for all armed forces.