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The launch of the PM Internship Scheme 2024 has been postponed as the learnings from the pilot phase are still under review. The source quoted in the report indicated that the scheme would be launched in the coming weeks.
The PM Internship Scheme, which aims to provide internship opportunities in top companies across India, received a significant response. A total of 1.27 lakh internship openings were posted by various companies under the scheme, attracting approximately 6.21 lakh applications.
This ambitious initiative, which spans over 12 months, is designed to offer 1 crore internship opportunities over the next five years. These internships will be offered in the top 500 companies, which have been selected based on their average Corporate Social Responsibility (CSR) expenditure over the past three years. Participation in the scheme is voluntary for these companies.
For the fiscal year 2024-25, the government aims to provide 1.25 lakh internships within the top companies. The internships will ensure that candidates spend half of the total 12-month period working in real job environments, as opposed to classroom-based learning. This hands-on exposure will help youth gain valuable work experience across various industries and professions.
As per the report, the government has allocated Rupees 2,000 crore for the scheme in the FY 2024-25 budget, with Rupees 6.04 crore already spent as of November 20, 2024. Participants in the scheme will receive a one-time allowance of Rupees 6,000, along with a monthly stipend of Rupees 4,500 from the government. Additionally, companies will contribute Rupees 500 per month to each intern’s stipend.
The Ministry of Corporate Affairs (MCA) had previously extended the registration deadline for the scheme until November 15, 2024.
Eligibility Criteria
Candidates wishing to apply for the PM Internship Scheme must meet the following criteria:
Must have passed high school or higher secondary school, or possess a certificate from an ITI, a diploma from a Polytechnic Institute, or a degree such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, etc.
Age between 21 and 24 years.
Must not be employed full-time or engaged in full-time education.
Online and distance learning students were also eligible to apply.
The internship scheme is expected to provide substantial work exposure, enhancing the skills and employability of the youth across various sectors.
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