PM Internship Scheme: Boosting Youth Employment in India

The PM Internship Scheme, launched in October 2024, aims to provide 1 crore internships over five years with top 500 companies in India. The scheme, managed by the Ministry of Corporate Affairs, aims to bridge the gap between academic learning and industry requirements.

Scheme Overview and Objectives

PM Internship Scheme launched on October 3, 2024, as part of the Union Budget 2024-25
Aims to provide 1 crore internships over five years with top 500 companies
Pilot project offering 1.25 lakh internships for FY 2024-25
Budget allocation of Rs 800 crore for the pilot phase
Managed through an online portal by the Ministry of Corporate Affairs
Designed to bridge the gap between academic learning and industry requirements
Focuses on providing practical business exposure to young graduates

Eligibility and Application Process

Age criteria: 21-24 years old
Educational qualifications: High School, Higher Secondary, ITI diploma, or graduate degrees (BA, BSc, BCom, BCA, BBA)
Excludes full-time students, employed individuals, and graduates from premier institutes (IITs, IIMs, NLUs)
Registration period: October 12-25, 2024
Application portal: pminternship.mca.gov.in
Selection process: October 27 - November 7, 2024
Offer letters: November 8-15, 2024
First batch starts: December 2, 2024
Reservation policies applied for SC, ST, and OBC candidates

Benefits and Structure

One-year internship duration
Monthly stipend of Rs 5,000 (Rs 4,500 from government, Rs 500 from company CSR funds)
One-time grant of Rs 6,000 upon joining
Insurance coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana
At least 50% of internship time spent in real-world job environments
Companies selected based on CSR expenditure over the last three years
Participating companies include Mahindra & Mahindra, Max Life, and Alembic Pharma
Multilingual helpline (1800-116-090) and grievance redressal mechanism available

Implementation and Future Outlook

Pilot project implemented across seven districts in Maharashtra, Uttarakhand, Telangana, and Gujarat
111 companies out of top 500 already enrolled in the program
1,077 internship positions listed across various sectors
Companies can collaborate with suppliers or affiliated entities to provide internships
Dedicated dashboard for companies to post internship opportunities
Scheme expected to expand to more companies and sectors in future phases
Aims to address youth unemployment and enhance skill development

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