PM Internship Scheme rolled out on pilot basis; Cabinet likely to approve Budget outlay in FY25

Youth aged between 21 and 24 years will be eligible for the scheme and the internship programme will commence on December 2.

The Government of India on October 3 launched the PM Internship Scheme on a pilot basis. The scheme is aimed at enhancing skill development through a centralised online platform developed by the Ministry of Corporate Affairs (MCA).

The pilot programme will be rolled out in seven districts across four states, namely, Gujarat, Maharashtra, Uttarakhand, and Telangana. In 2024-25, the total cost of the pilot project will be around Rs 800 crore. During this time, close to 1.25 lakh candidates will be provided internship opportunity under the scheme.

A source in the Ministry of Commerce said one lakh candidates are expected to begin Internship under the scheme by December 2024 and added that 111 companies have been on-boarded for the programme so far.

The Prime Minister's Internship Scheme, which was announced in the Union Budget 2024, will also provide insurance coverage to the interns. The Cabinet will likely approve the Budget outlay for the scheme in FY25, the Commerce Ministry source told Moneycontrol.

Financial Benefits To Be Offered Under Scheme

The platform will enable partner companies to offer internships, with financial assistance of Rs 5,000 per month for each intern, government sources said. Over a period of five years, the internship programme is expected to provide financial assistance of Rs 60,000 per annum to one crore youth. Out of the total amount, Rs 4,500 will be disbursed by the government and Rs 500 will be paid by the company from its CSR funds.

Also, a one-time grant of Rs 6,000 for incidentals will be disbursed by the ministry to each intern, upon joining the place of internship. Expenses associated with the training of interns under the scheme will be borne by the company from its CSR funds. Insurance coverage will be provided to each individual intern under insurance schemes of the Union government, PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana. The premium amount in this regard will be offered by the government.

Eligibility Criteria For Interns

Youth aged between 21 and 24 years will be eligible for the scheme and the internship programme will commence on December 2.

Candidates seeking internship opportunities can register in the portal from the second week of October. Eligible candidates may register on the Portal, where their details will be used to generate a resume.

As part of the eligibility criteria, candidates enrolled in online/ distance learning programmes are eligible to apply. 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, PTI sources said.

Candidates can browse internships based on their preferred sectors, roles, and locations and apply for up to five opportunities.

How Partner Companies Were Selected

News agency PTI quoted government sources as saying that top companies for the pilot project have been identified on the basis of the average of their CSR expenditure in the last three years.

The participation of companies in the scheme is voluntary and an internship will be offered for 12 months, with at least half of the period to be spent in the actual job environment and not in the classroom.

Any other company/ bank/ financial institution can participate in the scheme with the approval of the ministry, which will take into consideration factors like sectors and areas under-represented by the top 500 companies.

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.

(With PTI inputs)