Prime Minister Internship Scheme 2024: Key details you should know

The Central government launched the pilot phase of the Prime Minister’s Internship Scheme on Thursday, aiming to offer 1.25 lakh internship opportunities during the fiscal year 2024-25.

Internship Opportunities for 1 Crore Youth

The scheme aims to address youth unemployment by providing internships to 1 crore young people over the next five years. These internships are intended to offer valuable workplace experience, making it easier for participants to secure jobs after completing the program. Applicants who meet the eligibility requirements can apply online through the official portal to benefit from the Prime Minister Internship Scheme.

Eligibility Criteria

To qualify for the scheme, candidates must meet the following criteria:

– Age range: 21 to 24 years
– Should not be engaged in full-time employment
– Individuals from families with government employees are not eligible
– Graduates from prestigious institutions like IITs, IIMs, or those with qualifications such as CA or CMA are excluded

The scheme is, however, open to youth trained at Industrial Training Institutes (ITIs) and Kaushal Kendras (skill centers). Selected participants will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 provided by companies as part of their corporate social responsibility (CSR) initiatives.

Program Structure and Financial Support

The internship program will be rolled out in two phases, aiming to train 10 million youth over a five-year period. In addition to the monthly stipend, applicants will receive a one-time financial assistance of INR 6,000 to cover incidental expenses. The government will also ensure that interns are insured under programs such as PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the government covering the premium costs.

Pilot Phase and Corporate Partnerships

Before the full-scale rollout, a pilot phase was introduced to offer 1.25 lakh internship opportunities for the 2024-25 fiscal year. As of Thursday, more than 1,000 internship offers have been extended by prominent companies like Mahindra & Mahindra, Max Life, and Alembic Pharma. Registration for these internships will remain open from October 12 to October 25, 2024. Selected candidates will be notified between October 27 and November 7, 2024, and companies will issue offers between November 8 and November 15. The first batch of interns is expected to start on December 2, 2024.

Corporate Participation and Real-World Experience

Companies participating in the program have been selected based on their CSR spending over the last three years. While their involvement is voluntary, additional companies, banks, and financial institutions may join the scheme upon approval from the Ministry of Corporate Affairs (MCA). Firms unable to provide in-house internships are allowed to collaborate with suppliers, customers, or other partners within their value chain to create opportunities.

The internships will last for 12 months, with at least half of the program focusing on hands-on work experience. This approach is designed to equip participants with practical job skills. Most of the stipend will be provided by the government, with companies contributing a portion through their CSR funds.
Aiding Youth Employability

A grievance redressal mechanism and multilingual helpline (1800-116-090) have been set up to address any issues during the internship process. The scheme aims to help young people build a foundation for a successful career in India’s growing job market.

For more information and to apply, visit the official website at www.pminternship.mca.gov.in.