From Learning to Leading the PM Internship Scheme

The Prime Minister’s Internship Scheme was launched on October 3, 2024. This ambitious initiative, implemented through an online portal, aims to provide one crore young individuals with valuable internship opportunities over the next five years, allowing them to immerse themselves in diverse business environments and explore various professions. Also, Prime Minister Internship Scheme Portal went live for candidates to register at 5pm on October 12, the Ministry of Corporate Affairs said in a press release. 

Background

• Announced In: Union Budget 2024-25.
• Aim : To provide one crore internship opportunities over five years.
• Platform : Implemented through an online portal.
• Objective : Equip youth with skills and real-world exposure across diverse sectors.
• Pilot Project (2024-25)
• Target: 1.25 lakh internships.
• Sectors Covered: 24 sectors, including oil, gas, energy, travel, hospitality, automotive, banking, and financial services.
• Company Selection: Based on Corporate Social Responsibility (CSR) expenditure over the past three years.

Key Highlights of the PM Internship Scheme

Eligibility Criteria

• Age Range : 21-24 years.
• Candidates : Indian nationals not employed full-time or engaged in full-time education.
• Educational Qualifications : High School, ITI certificates, diplomas, or bachelor’s degrees (BA, B.Sc, B.Com, BCA, BBA, B.Pharma, etc.).
• Program Duration : 12 months.

• Application: Candidates can apply through the PM Internship Portal from October 12, 2024.

Ineligibility Criteria

• Graduates from IITs, IIMs, National Law Universities, IISER, NIDs, and IIITs.
• Holders of qualifications such as CA, CMA, CS, MBBS, BDS, MBA, or master’s degrees.
• Individuals engaged in government-sponsored skill programs, apprenticeships, or internships.
• Families with an annual income exceeding ₹8 lakh.
• Family members of permanent or regular government employees.

Partner Companies

• Top 500 companies based on CSR expenditure over the last three years have been identified.

• Other organizations can participate with approval from the Ministry of Corporate Affairs (MCA), particularly from underrepresented sectors.
• Companies can collaborate with others in their supply chain or group if direct internship opportunities are unavailable.

Financial Assistance

• Monthly Stipend: ₹5,000 (₹500 from partner companies and ₹4,500 from the government via DBT).
• One-time Grant: ₹6,000 upon joining the internship.
• Insurance Coverage: All interns will be covered under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, with premiums paid by the government.

PM Internship Portal

• A centralized online platform to manage the internship lifecycle.
• Companies can post internship opportunities and shortlist candidates.
• Candidates can apply for up to five internships based on location, sector, and qualifications.
• Shortlisting prioritizes diversity and inclusivity, focusing on Scheduled Castes, Scheduled Tribes, OBCs, and Persons with Disabilities.