New Delhi : On Thursday, the government initiated the pilot phase of the Prime Minister’s Internship Scheme, aiming to provide 1.25 lakh internship opportunities during the fiscal year 2024-25. This ambitious program, engaging the top 500 companies in India, was first announced in the Budget 2024-25 and envisions creating one crore internship positions over the next five years. The initiative will be managed via an online portal developed by the Ministry of Corporate Affairs (MCA) at www.pminternship.mca.gov.in.
Over 1,000 Internship Offers Available: Registration Opens Soon!
Significant interest has already been generated, with over 1,000 internship offers from leading firms like Mahindra & Mahindra, Max Life, and Alembic Pharma. Registration will be open from October 12 to October 25, 2024, with notifications for selected candidates sent between October 27 and November 7. Companies will extend internship offers from November 8 to November 15, with the first internships starting on December 2.
Companies Selected for Scheme Based on CSR Contributions
Participating companies were selected based on their Corporate Social Responsibility (CSR) expenditures, and their involvement is voluntary. Other organizations, including banks and financial institutions, can apply for participation with MCA approval. If partner companies cannot provide in-house internships, they can collaborate with suppliers or other entities in their value chain.
12-Month Internships with ₹5,000 Monthly Stipend
Internships will last 12 months, focusing on real-world job experiences, with at least half of the period dedicated to hands-on work. Interns will receive a monthly stipend of ₹5,000—₹4,500 from the government and ₹500 from the company’s CSR funds. A one-time grant of ₹6,000 will also be provided for incidental expenses upon joining.
Comprehensive Insurance Coverage for Interns
Interns will be covered under government insurance schemes like PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with premiums paid by the government. Companies may offer additional accidental insurance if desired.
Eligibility Criteria for Internship Applicants
Eligible candidates include Indian nationals aged 21 to 24 who are not employed full-time or engaged in full-time education. The scheme is open to those who have completed high school or hold certain degrees, excluding graduates from top institutions like IITs and IIMs, as well as those with higher qualifications like MBA, CA, CMA, and MBBS.
Support and Resources for Applicants
To support applicants, a grievance redressal mechanism and a multilingual helpline (1800-116-090) have been established, ensuring a smooth internship process. The scheme aims to equip youth with practical experience, enhancing their employability in India’s growing job market.
