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Government Launches Pilot Phase of PM Internship Scheme
The Indian government launched the pilot phase of the ambitious Prime Minister’s Internship Scheme on Thursday, aiming to provide 1.25 lakh internship opportunities during the fiscal year 2024-25. The scheme, announced in the Budget 2024-25, envisions creating one crore internship opportunities over the next five years with the participation of top 500 companies in India.
Scheme Highlights and Implementation
The Prime Minister’s Internship Scheme is designed to bridge the gap between academia and industry, providing young Indians with real-world work experience. Managed through an online portal developed by the Ministry of Corporate Affairs (MCA), accessible at www.pminternship.mca.gov.in, the initiative is already generating substantial interest. By Thursday morning, over 1,000 internship offers had been made by leading companies such as Mahindra & Mahindra, Max Life, and Alembic Pharma.
Key Dates and Details:
- Registration Period: October 12 to October 25, 2024.
- Notification of Selected Candidates: Between October 27 and November 7, 2024.
- Offer Letters Issued by Companies: November 8 to November 15, 2024.
- Internship Commencement: December 2, 2024.
The internships will last for 12 months and will involve hands-on work experience, with a focus on providing a realistic job environment. Interns will receive a monthly stipend of ₹5,000, out of which ₹4,500 will be contributed by the government and ₹500 by the participating companies through their Corporate Social Responsibility (CSR) funds. The government will also provide a one-time grant of ₹6,000 for incidental expenses when interns join their workplace.
Eligibility and Participation Criteria
Youth between the ages of 21 and 24 are eligible to apply, provided they are Indian nationals not employed full-time or enrolled in full-time education. The scheme is open to candidates with educational qualifications ranging from high school diplomas to degrees like BA, B.Sc, B.Com, BCA, BBA, B.Pharma, and other diplomas. Graduates from premier institutions like IITs, IIMs, and those holding higher qualifications such as MBA, CA, CMA, and MBBS are not eligible for this scheme.
Participating companies were selected based on their average CSR expenditure over the past three years. In addition to the 500 selected companies, other firms, banks, and financial institutions can apply to join the scheme, subject to MCA approval. For companies unable to offer internships in-house, they may collaborate with suppliers, customers, or other entities in their value chain.
Support and Insurance Coverage
Interns will be insured under government schemes like PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the government covering the premium costs. Companies may offer additional accidental insurance coverage if desired.
To ensure smooth implementation, a grievance redressal mechanism and a multilingual helpline (1800-116-090) have been established. This initiative aims to enhance the employability of India’s youth by equipping them with practical skills and experience, thereby strengthening the country’s workforce and economic growth.
