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The Indian government, under the Prime Minister's leadership, has initiated a pilot phase of the Prime Minister's Internship Scheme, aiming to offer 1.25 lakh internship opportunities to young individuals in fiscal year 2024-25. This scheme intends to empower a diverse group of youth, enhancing their practical skills and career prospects. The internship program is set to commence from December 2, 2023, with an estimated budget of Rs 800 crore. The program's objective is to provide hands-on experience in real-world business environments, exposing participants to various professions and opening doors to potential employment opportunities over a 12-month period.
The Prime Minister's Internship Scheme, announced in the Union Budget 2024, envisions offering internship opportunities to one crore young individuals over a five-year period. This ambitious plan involves collaboration with 500 top companies across various sectors. Participating companies will provide practical training and mentorship, ensuring that interns gain valuable insights into industry practices and acquire essential skills. The scheme is designed to bridge the gap between theoretical knowledge and practical application, equipping young graduates with the necessary competencies to succeed in today's dynamic job market.
The program provides financial assistance to the interns, offering a monthly allowance of Rs 5,000, along with a one-time support of Rs 6,000. This financial support aims to minimize financial barriers, enabling young individuals from diverse backgrounds to participate in the program. Furthermore, the participating companies are expected to cover the training costs and contribute 10 percent of the internship expenses from their Corporate Social Responsibility (CSR) funds. This shared responsibility demonstrates the government's commitment to fostering a collaborative approach to youth development.
The eligibility criteria for the Prime Minister's Internship Scheme are designed to ensure that the program reaches a targeted group of young individuals. Candidates must be between 21 and 24 years old, not engaged in full-time employment, and from families without government employees. Individuals with qualifications such as CA or CMA, or graduates from prestigious institutions like IITs and IIMs, are excluded from the scheme. However, the scheme is open to youth trained at Industrial Training Institutes (ITIs) and Kaushal Kendras (skill centers), providing them with an opportunity to gain valuable industry experience.
The application process for the PM Internship Scheme is completely online. Candidates can submit their applications through the official portal, www.pminternship.mca.gov.in, managed by the Ministry of Corporate Affairs. The registration period commenced from October 12 to 25, 2023, where candidates had to provide basic information. On October 26, the shortlisted candidates were announced. From October 27 to November 7, the participating companies selected the interns. The selected candidates were notified from November 8 to 15, and they had the opportunity to accept their internship offers during this time. The scheme allows candidates to receive up to three internship offers, giving them the flexibility to choose the most suitable opportunity.
Source: PM Internship Scheme: What It Is, How To Apply, Eligibility Criteria & More