Education

Prime Minister Internship Scheme: Over 1,55,000 Registrations by October 13

Targeting 1 Crore Internships in 5 Years, the Scheme Aims to Provide Youth with Skills, Stipends, and Corporate Experience

By October 13, more than 1,55,000 young individuals have registered for the Prime Minister Internship Scheme. Launched on October 3, the first phase of the scheme has received a much better response than policymakers expected. The government had set a target of selecting 1,00,000 candidates for internships by December, a goal that now seems easily achievable.

Overview of the Scheme

The Prime Minister Internship Scheme aims to provide internship opportunities to 1 crore young people across the country in the next five years, offering them placements in the top 500 companies for 12 months. The government has already identified all 500 participating companies and listed them on a web portal operated by the Ministry of Corporate Affairs, which manages the scheme. According to the portal, over 80,000 internships across 24 sectors have already been secured from around 200 companies.

Notable companies offering internships so far include Jubilant FoodWorks, Eicher Motors Limited, Larsen & Toubro Limited, Tech Mahindra, Mahindra & Mahindra Limited, Bajaj Finance, and Muthoot Finance.

This program is targeted at youth aged 21-24, providing them an opportunity to gain real-world business experience, helping them develop skills and gain work experience.

Scheme Objectives

The internship scheme was launched with two specific objectives:

  1. To provide job training to young people.
  2. To offer basic financial support to unemployed youth through stipends.

Eligibility Criteria

There are three main eligibility criteria for the scheme:

  1. Applicants must be between 21 and 24 years of age by the last date of application and must be Indian citizens.
  2. They should not have full-time employment during the internship.
  3. Full-time students pursuing degree programs are not eligible, but those pursuing distance learning or online courses can apply.

Application Process and Benefits

Eligible candidates must create a profile on the online portal and apply. Once their profiles are created, they will be contacted by participating companies for internships. It’s important to note that this scheme follows the Direct Benefit Transfer (DBT) model. After an internship is offered, candidates will receive ₹4,500 from the government and the remaining amount from the company.

Additionally, candidates will receive ₹6,000 from the government at the start to cover incidental expenses. The interns will get ₹4,500 from the government and ₹500 from the company each month as financial assistance. Furthermore, they will receive a one-time grant of ₹6,000 from the government.

Companies can contribute ₹500 per intern per month, which can be funded through their Corporate Social Responsibility (CSR) budgets. Interns will also be provided insurance coverage under the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana.

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