Govt Launches Prime Minister’s Internship Scheme: Rs 5,000 Stipend For Youths, Apply From October 12

The government has launched the Prime Minister Internship Scheme, providing selected youths with Rs 5,000 monthly to intern with top 500 companies.

The Prime Minister Internship Scheme for 1 crore youth has been launched.

Source : ABPLIVE AI

New Delhi: The government on Thursday launched the Prime Minister Internship Scheme on a pilot basis. Under this scheme, selected youths for internships will receive a monthly financial assistance of Rs 5,000. Finance Minister Nirmala Sitharaman proposed this scheme in her budget speech. Under the scheme, youths will get the opportunity to intern with India's top 500 companies. The scheme aims to provide internship opportunities to 10 million (1 crore) youths over five years. This scheme will be for those who come in the age group of 21-24 years.

Estimated to cost around Rs 800 crore, the pilot project will start on December 2 and expects to cover 1.25 lakh candidates in the current financial year ending March 2025, government sources said on Thursday.

Announced in the Union Budget 2024, the Prime Minister's Internship Scheme in Top Companies will also provide insurance coverage to interns.

Know Everything About PM Internship Scheme 

• Selected interns will receive Rs 5,000 per month, with Rs 4,500 paid by the government and Rs 500 by the company from CSR funds.

• Each intern will receive a one-time grant of Rs 6,000 for incidental expenses upon joining the internship.

• The internship will last for 12 months, with at least half of the period spent in the actual job environment.

• Companies will select candidates from October 27 to November 7, 2024, with up to three offers made to each candidate.

• Top 500 companies are identified based on their average CSR expenditure over the past three years.

• Company participation is voluntary, and internships do not guarantee job offers.

• Eligible youth aged 21-24 and from families with an annual income less than Rs 8 lakh can apply, including those with qualifications like BA, B.Sc, B.Com, ITI, or Polytechnic diplomas.

• Interns will receive insurance coverage under government schemes, with the premium paid by the government.

• The scheme covers seven districts across four states: Telangana, Uttarakhand, Gujarat, and Maharashtra.

• Training expenses for interns will be covered by the company’s CSR funds.

• A dedicated portal allows companies to post internship opportunities, and candidates can apply for up to five internships.

• Each company will have nodal persons to resolve any issues for interns.

• Families with annual incomes over Rs 8 lakh and candidates from certain categories are excluded from the scheme.

How To Apply For Internship?

Candidates will be able to apply online through the online portal at pminternship.mca.gov.in. From October 12 to 25, candidates can register with minimum data in the portal and the applicants will be shortlisted on October 26.