PM Internship Scheme Launched: Earn Rs 5,000 Stipend, Register From Oct 12-25
PM Internship Scheme Launched: The Government of India has launched the Prime Minister’s Internship Scheme, offering an unprecedented 1.25 lakh internships in leading companies across the country for the 2024-25 financial year. This is part of a larger initiative to provide one crore internships over the next five years. The scheme, managed by the Ministry of Corporate Affairs (MCA), aims to bridge the gap between academic knowledge and industry requirements, providing practical exposure to young graduates. This initiative will not only boost employment but also align the youth with India’s growing economic needs.
Key Highlights of the Scheme
The Prime Minister’s Internship Scheme is designed to offer young graduates an opportunity to gain hands-on experience in the corporate world. With a budget of Rs 800 crore for the pilot phase, the programme is expected to transform the employment landscape for Indian youth.
The scheme is a collaboration between the government and 500 top companies, including prominent names like Mahindra & Mahindra, Max Life, and Alembic Pharma. These companies have already made 1,077 internship offers, highlighting their enthusiasm for the project.
How to Apply
Candidates can register for the scheme between October 12 and October 25 on the MCA’s dedicated portal: pminternship.mca.gov.in. This online portal will handle the entire application and selection process, ensuring a smooth and transparent experience for all applicants.
Selection and Internship Timeline
The selection process for the internships will be held between October 27 and November 7. Once selected, the offer letters will be sent to candidates between November 8 and November 15. The first batch of interns is expected to start their one-year internship on December 2, 2024. This timeline ensures that successful candidates are ready to step into their roles by the end of the year.
Eligibility Criteria
To be eligible for the Prime Minister’s Internship Scheme, candidates must
- Be aged between 21-24 years
- Have completed at least a High School or Higher Secondary education, ITI diploma, or hold graduate degrees such as BA, BSc, BCom, BCA, or BBA.
However, there are certain exclusions
- Candidates who are currently enrolled in full-time education or employed full-time are not eligible to apply.
- Graduates from premier institutions such as IITs, IIMs, and National Law Universities are also excluded from the scheme.
Reservation Policy
The scheme adheres to the Centre’s reservation policy, ensuring that a proportion of the internships are reserved for candidates from Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC), and individuals with disabilities. This makes the scheme inclusive, ensuring that candidates from underrepresented communities have access to these opportunities.
Financial Assistance for Interns
Interns under the Prime Minister’s Internship Scheme will receive a monthly stipend of Rs 5,000. Out of this amount, Rs 4,500 will be contributed by the government, and Rs 500 will come from the CSR (Corporate Social Responsibility) funds of the participating companies.
Additionally, interns will receive a one-time grant of Rs 6,000 upon joining. This financial support is aimed at helping interns manage the initial costs associated with starting their internships.
Insurance Coverage
As part of the scheme, interns will also be covered under two key government insurance programmes
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Pradhan Mantri Suraksha Bima Yojana
This insurance coverage provides peace of mind for interns, ensuring they are protected during their internship period.
Grievance Redressal Mechanism
To ensure smooth implementation, the scheme includes a dedicated grievance redressal mechanism. Candidates and interns can reach out through a multilingual helpline (1800-116-090) for support in various languages. This feature ensures that all stakeholders have access to timely and effective assistance throughout the internship process.
The Prime Minister’s Internship Scheme is set to be a game-changer for Indian graduates. With a large number of internships available, strong corporate participation, and financial assistance, the scheme is designed to prepare young professionals for the challenges of the modern workplace. By providing hands-on experience and aligning with India’s growing industries, the government hopes to create a stronger, more job-ready workforce for the future.
With registration starting soon, eligible candidates are encouraged to apply and seize this opportunity to enhance their skills and contribute to India’s growth story.
