Centre rolls out 'PM Internship Scheme' for EWS unemployed youths: All you need to know about it

Announced in the Union Budget 2024, the Prime Minister's Internship Scheme in Top Companies will also provide insurance coverage to the interns. The scheme will be implemented through an online portal developed by the corporate affairs ministry.

PM Internship Scheme: The central government on Thursday introduced a pilot project for the "PM Internship Scheme" aimed at enhancing skill development through a centralised online platform. Developed by the Ministry of Corporate Affairs (MCA), this platform will allow partner companies to offer internships to unemployed individuals from the Economically Weaker Section (EWS) who are currently without jobs. Each intern will receive financial assistance of Rs 5,000 per month under the scheme, as per a government official. 

What is PM Internship Scheme?

The PM Internship Scheme was launched as part of the government’s initiative to combat youth unemployment. It was introduced in the Modi government's first Union Budget after securing its third consecutive victory in the Lok Sabha elections 2024.

As announced by Finance Minister Nirmala Sitharaman, the scheme aims to provide one crore young people with internship opportunities in 500 of India’s top companies. Under the scheme, interns will receive a monthly allowance of Rs 5,000, along with a one-time assistance of Rs 6,000. The scheme will be rolled out in two phases, with the first phase lasting two years and the second phase extending to three years.

Eligibility and structure of PM Internship Scheme

The scheme also outlines that companies offering internships will cover the cost of training the youth, with 10 per cent of the internship costs covered by their Corporate Social Responsibility (CSR) funds. An online portal for applications will be introduced, though its specifics are yet to be disclosed.

To ensure a quality experience, companies have been directed to provide actual work experience, with at least half the internship time spent in a job environment rather than a classroom setting. The scheme is open to those aged between 21 and 24 who are not currently employed or engaged in full-time education. However, graduates from elite institutions like IIT, IIM, and IISER are ineligible for the programme. Candidates who have passed High School, Higher Secondary School, possess a certificate from an ITI, hold a diploma from a Polytechnic Institute, or are graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, etc. are eligible.

When to register for scheme? 

Candidates seeking internship opportunities can register in the portal from the second week of October. Partner Companies will have a dedicated dashboard on the portal where they can post internship opportunities, detailing location, nature, required qualifications, and any facilities provided. Eligible candidates may register on the Portal, where their details will be used to generate a resume. Candidates can browse internships based on their preferred sectors, roles, and locations and apply for up to five opportunities.

(With PTI inputs)

ALSO READ: PM Modi hails Union Budget 2024: 'We have to make entrepreneurs in every town, village, house'