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The Indian government has taken a significant step towards tackling youth unemployment by introducing the Prime Minister’s Internship Scheme, aiming to offer internship opportunities to one crore young individuals over the next five years. This initiative, initially rolled out on a pilot basis, focuses on providing practical on-the-job training to individuals aged 21 to 24, particularly those from economically weaker sections of society.
The program's core objective is to bridge the gap between theoretical knowledge and practical experience, equipping young graduates with the skills and confidence they need to thrive in the job market. It also aims to offer a platform for companies to identify and nurture potential talent within their workforce.
The scheme provides comprehensive support to interns, including a monthly financial assistance of ₹5,000, with ₹4,500 contributed by the government and ₹500 by the participating companies from their Corporate Social Responsibility (CSR) funds. Additionally, a one-time grant of ₹6,000 is offered to each intern. This financial support alleviates the financial burden associated with pursuing an internship, allowing young individuals to focus on their training and development.
The program utilizes a meticulous selection process, employing artificial intelligence (AI) tools to analyze data and identify potential candidates based on their qualifications, skills, and interests. The goal is to create a shortlist of candidates who are best suited for each company's specific requirements, ensuring a productive and mutually beneficial internship experience.
The government emphasizes placing interns within their own districts or neighboring districts whenever possible, prioritizing local opportunities and contributing to regional development. The scheme has been met with enthusiasm from major corporations such as Mahindra and Mahindra, Max Life Insurance, and Alembic Pharma, who have already volunteered to participate in the pilot project.
The pilot phase provides a valuable opportunity to evaluate and refine the scheme's features, ensuring its effectiveness and scalability. The government plans to gather insights and feedback from both interns and participating companies, which will be used to enhance the program's implementation and ensure its successful nationwide rollout.
The Prime Minister's Internship Scheme is a promising initiative that holds the potential to significantly impact India's youth employment landscape. By providing young individuals with practical experience, financial support, and the opportunity to gain valuable skills, the program aims to empower them to contribute to the nation's economic growth and progress.
Source: PM Internship Scheme rolled out on pilot basis; aims to provide 1 crore internships over five years