PM Internship Scheme: The central government unveiled the “PM Internship Scheme” pilot initiative on Thursday with the goal of improving skill development via a centralized online platform. This platform, created by the Ministry of Corporate Affairs (MCA), will enable partner businesses to provide internships. According to a government official, each intern will receive financial support under the initiative amounting to Rs 5,000 per month.
PM Internship Scheme: What Is It?
As part of its effort to address youth unemployment, the government introduced the PM Internship Scheme. Following the Modi government’s third consecutive victory in the Lok Sabha elections in 2024, it was included in the government’s first Union Budget.
The program, which was unveiled by Finance Minister Nirmala Sitharaman, is to offer internships to one crore youth in 500 of the best Indian companies. Interns will get a monthly allowance of Rs 5,000 under the initiative, in addition to a one-time aid of Rs 6,000. The program will be implemented in two stages, the first of which will last for two years and the second for three.
Qualifications and Format of PM Internship Program
The program further states that participating companies will pay for the youth’s training, with their Corporate Social Responsibility (CSR) funding covering 10% of the internship expenses. There will be an introduction of an online application site; however, the details are still to be revealed.
Companies are required to offer real work experience, with at least half of the internship time being spent in a workplace as opposed to a classroom, in order to guarantee a high-quality experience. Those between the ages of 21 and 24 who are not now employed or enrolled in full-time education are eligible for the program. However, the programme is not open to alumni of prestigious universities like IIT, IIM, and IISER. The following candidates are eligible: graduates of High School, Higher Secondary School, ITI certificate holders, Polytechnic Institute diploma holders, and holders of degrees such as BA, B.Sc., B.Com., BCA, BBA, B.Pharma, etc.
When should I sign up for the program?
Beginning in the second week of October, those looking for internship opportunities can register on the portal. Partner Companies will be able to post internship opportunities on the portal through a dedicated dashboard, where they may describe the program’s nature, location, prerequisites, and any facilities offered. Candidates who meet the requirements can register on the Portal, where a résumé will be created using their information. Candidates can search internships based on their favorite sectors, roles, and locations and apply for up to five opportunities.