Finance
PM Internship Scheme: The central government launched a pilot initiative for the “PM Internship Scheme” with the goal of improving skill development through a centralised online platform. This portal, created by the Ministry of Corporate Affairs (MCA), will allow partner companies to offer internships to unemployed individuals from the Economically Weaker Section (EWS) who are currently jobless. According to a government official, each intern will receive Rs 5,000 per month as part of the initiative.
What is PM Internship Scheme?
The PM Internship Scheme was established as part of the government’s efforts to reduce youth unemployment. It was included in the Modi government’s first Union Budget, following its third consecutive victory in the Lok Sabha elections of 2024.
The plan, unveiled by Finance Minister Nirmala Sitharaman, intends to give internship opportunities for one crore young people at 500 of India’s biggest corporations. Interns will be compensated with a monthly allowance of Rs 5,000 and a one-time help of Rs 6,000 under the scheme. The project will be implemented in two parts, with the first lasting two years and the second lasting three years.
Eligibility and structure of PM Internship Scheme
The proposal also states that employers offering internships will cover the cost of training the youth, with 10% covered by Corporate Social Responsibility (CSR) money. An online application site will be introduced, albeit the specifics have yet to be released.
To provide a quality experience, firms are required to provide actual work experience, with at least half of the internship time spent on the job rather than in a classroom setting. The scheme is open to those aged 21 to 24 who are not currently employed or enrolled in full-time study. However, alumni of prestigious universities such as IIT, IIM, and IISER are ineligible for the programme. Candidates who have passed High School or 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, B.Pharma, etc. are eligible.
When to register for scheme?
Candidates seeking internships can register via the portal beginning in the second week of October. Partner companies will have a separate dashboard on the web where they may publish internship opportunities, including the location, type, required qualifications, and any facilities offered. Eligible candidates may register on the Portal, and their information will be utilized to create a résumé. Candidates can search for internships based on their desired industries, jobs, and locations, and apply for up to five possibilities.
Source:Intv
