PM Internship Scheme Launched: Aims to Provide 1 Crore Internships Over Five Years

In a significant move to address youth unemployment and bridge the gap between education and employment, the Indian government has launched the Prime Minister's Internship Scheme. This ambitious initiative, announced in the Union Budget 2024, aims to provide one crore internship opportunities to young individuals over the next five years.

Pilot Project Details

The pilot project of the PM Internship Scheme was launched on October 3, 2024, and is expected to benefit over 1.25 lakh candidates in the fiscal year 2024-25. The scheme is managed through an online portal developed by the Ministry of Corporate Affairs (MCA), which will serve as a centralized platform for managing internships. Interested candidates can register on the portal from October 12 to October 25, 2024.

Companies participating in the scheme have been selected based on their average Corporate Social Responsibility (CSR) expenditure over the last three years. As of now, 111 companies, including major corporates like Mahindra & Mahindra, Max Life, and Alembic Pharma, have come on board. The scheme also allows other companies, banks, and financial institutions to participate with the approval of the MCA.

Eligibility Criteria

To be eligible for the PM Internship Scheme, candidates must be between the ages of 21 and 24 and not employed full-time or enrolled in any full-time educational course. They should not have a parent with a government job or any family member earning more than Rs 8 lakh per year. Eligible candidates include those who have completed their Secondary School Certificate (SSC), Higher Secondary Certificate (HSC), or hold degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, and various diplomas from ITI or polytechnic institutes. However, graduates from top institutions like IITs, IIMs, and those holding higher qualifications like MBA, CA, CMA, and MBBS are ineligible.

Financial Assistance and Benefits

Interns under the PM Internship Scheme will receive a monthly stipend of Rs 5,000, with Rs 4,500 provided by the government and Rs 500 contributed by the company from its CSR funds. Additionally, they will receive a one-time grant of Rs 6,000 for incidental expenses. The financial assistance will be transferred directly to the interns Aadhaar-seeded bank accounts. Interns will also be insured under government schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, with the government covering the premium costs.

The internships will last for 12 months, with at least half of the period dedicated to real-world job environments. This hands-on experience is designed to equip young people with practical skills, enhancing their employability in Indias growing job market.

Application and Selection Process

Eligible candidates will register on the PM Internship portal, complete their profile, generate their CV, and submit their preferences from the list of available opportunities. Candidates must keep their Aadhaar card, educational certificates, and recent passport-size photographs handy while registering. The shortlisting of candidates will be done by October 26, and companies will select candidates from October 27 to November 7. Selected candidates will have time from November 8 to November 15 to accept the internship offers.

The scheme also includes a dedicated grievance redressal mechanism and a multilingual helpline to support applicants and ensure a smooth internship process.

Learn More at Direct Post.