Govt to launch PM Internship scheme on October 3
NEW DELHI: In a bid to enhance youth employability and skill development, the government, in partnership with India Inc, will launch a one-year internship program for individuals aged 21 to 24 on October 3.
This initiative, part of the Prime Minister’s Package for Employment and Skilling, was first introduced in the Budget and will provide opportunities at the top 500 companies.
On the same day, the internship portal will be launched, allowing candidates to apply directly. Companies will upload their internship positions, and candidates will be able to submit applications starting October 12.
The scheme is part of the initiative to provide skill training to over one crore youth in India over the next 5 years, with a budget of Rs 2 trillion. The programme aims to improve employability of young individuals, especially those with limited access to higher education or specialised training.
Interns will receive Rs 4,500 per month via direct benefit transfer (DBT), while companies will add Rs 500 from their corporate social responsibility (CSR) funds. Eligible companies have been chosen based on their average CSR spending over the past 3 years.
Participants are required to spend a six months in a real-world work environment to gain practical experience, going beyond classroom learning. Companies have the option to partner with their supply chain associates or other institutions to enhance internship experience.
For availing benefit of the scheme, candidates must be between ages of 21 and 24 and can’t be in full-time employment. Individuals from families with government employees are not eligible to participate.
Those who have graduated from prestigious institutions like the Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), Indian Institutes of Science Education and Research (IISER), or hold qualifications like Chartered Accountant (CA) or Cost and Management Accountant (CMA) are also excluded.
Skill training scheme
PM Internship Scheme is part of the initiative to provide skill training to over one crore youth in India over the next 5 years, with a budget of Rs 2 trillion. Interns will receive Rs 4,500 per month