The government has rolled out the internship programme on a pilot basis that will provide a total annual financial assistance of Rs 66,000 to those in the age group of 21-24 years. It aims to cover one crore youth over five years.
Under the pilot project, which is estimated to cost around Rs 800 crore, the internship will start on December 2 and expects to cover 1.25 lakh candidates in the current financial year ending March 2025.
What is the PM Internship Scheme?
Announced in the Union Budget 2024, the Prime Minister’s Internship Scheme provides internship opportunities in 500 top companies to one crore youth in five years. They will gain exposure for 12 months to real-life business environment, varied professions and employment opportunities.
An internship allowance of Rs 5,000 per month along with a one-time assistance of Rs 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds.
PM Internship Scheme: Check Eligibility
A negative list has been prepared with respect to those who will not be eligible to participate in the scheme. These include candidates from families where any of their family members has an annual income of more than Rs 8 lakh for 2023-24.
As part of the eligibility criteria, candidates enrolled in online/ distance learning programmes are eligible to apply.
Candidates who have passed High School, Higher Secondary School, possess a certificate from an ITI, hold a diploma from a Polytechnic Institute, or are graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA and B.Pharma will be eligible for the scheme, according to a PTI report.
Partner companies will have a dedicated dashboard on the portal where they can post internship opportunities, detailing location, nature, required qualifications, and any facilities provided.
Eligible candidates may register on the portal, where their details will be used to generate a resume.
PM Internship Scheme: How to Apply?
The scheme will be implemented through the online portal ‘www.pminternship.mca.gov.in‘ developed by the corporate affairs ministry.
From October 12 to 25, candidates can register with minimum data in the portal and the applicants will be shortlisted on October 26.
Later, candidates will be selected by companies from October 27 to November 7. Then, the selected candidates will have time from November 8 to 15 to accept the offer.
Up to three offers will be made to a candidate.
111 Private Sector Companies Join PM Internship Scheme
A total of 111 private sector companies have signed up for the government’s PM Internship Scheme, according to the report. The initiative, announced during the 2024-25 Budget, seeks to bridge the gap between academia and industry by offering practical experience to young professionals.
The top 500 companies for the scheme have been identified on the basis of their average CSR (Corporate Social Responsibility) expenditure in the last three years.
The ministry has partnered with government-owned BISAG-N to run the project.
The participation of companies in the scheme is voluntary and an internship will be offered for 12 months, with at least half of the period to be spent in the actual job environment and not in the classroom.
For now, as many as 1,077 offers have been made by three companies — Alembic, Mahindra & Mahindra, and Max Life Insurance, according to the PTI report citing sources.
They also said the states as many as seven districts in four states have been covered so far — one district each in Telangana and Uttarakhand, two districts in Gujarat and three districts in Maharashtra.
Reservation in PM Internship Scheme
Existing reservations will be applicable in selecting the candidates under the scheme, according to the PTI report.
PM Internship Scheme: Insurance Coverage
Insurance coverage will also be provided to each individual intern under insurance schemes of the Union government, PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana. The premium amount in this regard will be offered by the government.
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