New Delhi, Oct 3: The Government has officially launched the pilot phase of the Prime Minister’s Internship Scheme, a key initiative announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The scheme aims to offer internship opportunities to one crore youth across 500 top companies over a period of five years. According to sources from the Ministry of Corporate Affairs, ₹800 crore has been allocated for the pilot project, with 1.25 lakh internship opportunities set to be offered during the 2024-25 fiscal year.
The scheme will be facilitated through the online portal pminternship.mca.gov.in, where eligible candidates can apply from the 12th to the 25th of this month. The internships will last for 12 months, and companies have been selected for the pilot based on their average Corporate Social Responsibility (CSR) spending over the past three years. While participation by companies is voluntary, other companies, banks, or financial institutions interested in joining can seek approval from the Ministry of Corporate Affairs, especially in underrepresented sectors.
The scheme targets youth between 21 and 24 years of age who are not engaged in full-time employment or education. Interns will receive a monthly stipend of ₹5,000, with ₹4,500 provided by the government and ₹500 contributed by the participating companies. Additionally, a one-time grant of ₹6,000 will be given to each intern to cover incidentals upon their joining.
