The PM Internship Scheme is now live, poised to empower the country’s youth and create opportunities for one crore young employees across diverse fields. Since the scheme’s launch on October 3, 2024, over 90,000 internship opportunities were reportedly posted by 193 companies until October 12, when the portal for the internship was officially opened for applications.
At a time when the stress of rising unemployment and layoffs looms larger than ever, this internship scheme, part of the Prime Minister’s Employment and Skilling package, comes as a much-needed tool for supporting those stepping into their early careers. Hailed as a beacon of hope, this internship programme attempts to provide young individuals with skill training and professional experience from a young age across prestigious companies. It would enhance their professional skills and bolster their confidence as they move ahead in their career.
What is the PM Internship Scheme?
The Prime Minister’s Internship Scheme is a crucial agent that recognises the need to equip India’s youth with the necessary skills to survive the fast-paced economy of contemporary times. Announced during the Union Budget 2024-25, the scheme started as a pilot project targeting 1.25 lakh internships for 12 months. Spanning 25 sectors, including gas, energy, oil, travel, hospitality, automobile, banking, financial services, and so on, the scheme aims to provide India’s youth with valuable internship experience over the next five years.
Unlike other government employment and skills development schemes, the PM Internship Schemes seek to focus solely on the 21-24 age group and fresh graduates, a crucial time to learn and grab most of what is being offered. Leveraging this, the internship scheme aims to equip today’s youth with all the necessary tools and equipment from an early age through diverse professional experience, giving them exposure to the real world.
Launched on October 3, candidates can now apply for the vacancies directly through a dedicated internship portal, where companies post internship positions. The portal opened for applications on October 12.
Who is eligible and what stipends are provided: All you need to know
The pilot project would offer a 12-month internship to Indian nationals not enrolled in full-time employment or pursuing their studies, including distance and online courses.
The applicants must be between the ages of 21 and 24 as of December 2024. They can either be high-school pass-outs or recent graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma., and and so on, or possess a certificate from an ITI, holding a diploma from a Polytechnic Institute.
However, candidates under the following criteria are not eligible to apply for the PM Internship Scheme:
- Candidates who are regular employees with a private or government organisation
- Family members of permanent or regular government employees.
- Graduates from IITs, IIMs, National Law Universities, IISER, NIDs, and IIITs and candidates hold degrees/qualifications including CMA, CA, MBBS, BDA, BDS, CS, or any equivalent master’s or higher degrees.
- Individuals who have completed similar government programmes or are currently enrolled in any other government-funded apprenticeship or skill development schemes.
- If the income of any of the candidate’s family members exceeds Rs 8 Lakh for FY 2023-24.
Candidates must first register on the official portal of the PM Internship Scheme. After creating a comprehensive profile highlighting their educational qualifications, skills, and areas of interest, they can apply for up to five internship programmes. The companies will contact the shortlisted profiles based on the required qualifications shortly.
Under the PM Internship Scheme, a candidate is eligible for a monthly stipend of Rs 5000. The company contributes Rs 500, contingent on attendance and conduct, and the government pays the rest of Rs 4500 through Direct Benefit Transfer. Further, a one-time payment of Rs 6000 is made towards the new joint after joining the internship through DBT.
Additionally, all interns under the PM Internship Scheme would be covered under the government’s insurance schemes: Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, with the government paying the premium. Partner companies may also offer additional accidental insurance coverage.
What kind of training is provided under the PM Internship Scheme?
The PM Internship Scheme provides a planned combination of classroom instruction and real-world, hands-on experience. The internship will immerse the student in a real-world professional setting for at least six months, giving them invaluable experience in daily operations and job-specific responsibilities. Interns will receive necessary classroom-based instruction throughout some of the internships, but the main focus will be on giving them hands-on, industry-related experience. This method guarantees that participants acquire theoretical information and use it in the real world, which deepens their comprehension of the field they have chosen and improves their employability.
How are companies selected?
Based on their average CSR (Corporate Social Responsibility) spending over the previous three years, the government has determined the top 500 corporations. These industry leaders represent a variety of sectors, such as manufacturing, technology, finance, and healthcare, and are recognised for their commitment to providing quality internship experiences. With permission from the Ministry of Corporate Affairs (MCA), other businesses, banks, or financial institutions may participate in the PM Internship Scheme, especially if they represent underrepresented industries. Companies can create profiles on the official Portal by following the user manual.
If a partner company cannot offer internships directly, it may work with its supply chain and other businesses or organisations in its network.
Companies such as Reliance Industries Limited, Maruti Suzuki India Limited, Larsen & Toubro Limited, Jubilant FoodWorks Limited, Eicher Motors Limited, Tech Mahindra Limited, Mahindra & Mahindra Limited, Bajaj Finance Limited, Muthoot Finance Limited, and others are currently registered under the PM Internship scheme.
How is the PM Internship Scheme beneficial?
A transformative and ground-breaking initiative designed to improve the employability of India’s youth, the PM Internship Scheme enhances skills by offering worthwhile internships across various sectors. By matching young people with top businesses, the program gives them real-world experience and necessary skills and encourages an ongoing learning culture in businesses. By working with driven interns, companies not only fill up current skill gaps but also invest in the future of their workforce, developing individuals who are prepared for the sector and meet the requirements to face the difficulties of the changing labour market.