This Thursday, the government launched the Prime Minister Internship Scheme on a pilot basis, in which selected youths for internships will receive a monthly financial assistance of Rs 5,000.
Prime Minister Internship Scheme Pilot Launch
Earlier this scheme was proposed by the Finance Minister Nirmala Sitharaman during her budget speech.
This scheme will provide the youths with the opportunity to intern with India’s top 500 companies.
Moving ahead, this scheme aims to provide internship opportunities to 10 million (1 crore) youths over five years.
This opportunity will specifically be provided for those who come in the age group of 21-24 years.
In total, this scheme is estimated to cost around Rs 800 crore as the pilot project is slated to start on December 2.
They are expected to cover 1.25 lakh candidates in the current financial year ending March 2025, as mentioned by the government sources on Thursday.
The Prime Minister’s Internship Scheme in Top Companies which was announced in the Union Budget 2024, will also be providing insurance coverage to the interns.
The candidates, who are interested in this opportunity, can apply online through the online portal at pminternship.mca.gov.in.
The candidates can register with minimum data in the portal from October 12 to 25 and they can expect the result of being shortlisted on October 26.
What Are The Benefits Of PM Internship Scheme ?
After shortlisting, the interns will receive Rs 5,000 per month, out of this Rs 4,500 will be paid by the government and Rs 500 by the company from CSR funds.
Upon joining the internship, each intern will receive a one-time grant of Rs 6,000 for incidental expenses upon joining the internship.
This is a 12 month internship program, with at least half of the period spent in the actual job environment.
From October 27 to November 7, 2024, the companies will commence the selection of candidates with up to three offers made to each candidate.
The participating companies are Top 500 companies which are identified based on their average CSR expenditure over the past three years.
Please note that company participation is voluntary here and these internships do not guarantee job offers.
For the eligibility, the youth aged 21-24 and from families with an annual income less than Rs 8 lakh can apply.
These candidates include those with qualifications like BA, B.Sc, B.Com, ITI, or Polytechnic diplomas.
These interns will receive insurance coverage under government schemes, with the premium paid by the government.
This scheme is applicable to seven districts across four states including Telangana, Uttarakhand, Gujarat, and Maharashtra.
The participating company will have nodal persons to resolve any issues for interns.
It is noteworthy here that the families having annual incomes over Rs 8 lakh and candidates from certain categories are excluded from the scheme.
