New Delhi : The government has updated the Corporate Social Responsibility (CSR) guidelines for Central Public Sector Enterprises (CPSEs) to prioritize the Prime Minister’s Internship Scheme for the fiscal year 2024-25. CPSEs will now be required to allocate 60% of their CSR funds towards health, nutrition, and this new internship program. The PM’s Internship Scheme aims to provide internships to 1 crore young individuals over a five-year period, starting from December 2, 2024.
An official confirmed that CPSEs follow a theme-based approach when utilizing CSR funds, and for the 2024-25 fiscal year, the focus will be on health, nutrition, and the Prime Minister’s Internship Scheme. “We have added the PM’s Internship Scheme to the ‘Health and Nutrition’ theme for CSR activities by CPSEs this fiscal. CPSEs will spend 60% of their CSR funds on these areas,”
The Ministry of Corporate Affairs has already started enrolling companies and interns under the scheme, which was initially announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The program, estimated to cost around Rs 800 crore for its pilot phase, will offer a 12-month internship starting December 2, 2024, with 1.25 lakh candidates expected to participate by the end of the financial year in March 2025. The scheme targets youth aged 21-24, offering opportunities in the top 500 companies along with life insurance coverage.
Interns will receive a monthly financial assistance of Rs 5,000, with Rs 4,500 contributed by the government and Rs 500 from the company’s CSR funds. Additionally, a one-time grant of Rs 6,000 will be provided to each intern.
The official also mentioned that while the private sector will play a key role in offering internship opportunities, CPSEs are also encouraged to join the scheme. Candidates can register on the portal by October 25, with shortlisting starting on October 26. Selected candidates will have the opportunity to accept offers between November 8 and 15, with up to three offers being made to each candidate.
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