On Thursday, the government officially initiated the pilot phase of the Prime Minister’s Internship Scheme, an ambitious initiative designed to create 1.25 lakh internship opportunities for the fiscal year 2024-25. According to government sources, this program will engage participation from the top 500 companies across India.
Vision for Future Internship Opportunities
First unveiled in the Budget for 2024-25, the scheme aims to generate a staggering one crore internship opportunities for young individuals in leading companies over the next five years. The initiative will be managed via an online portal developed by the Ministry of Corporate Affairs (MCA), accessible at www.pminternship.mca.gov.in.
Early Interest and Registration Details
The pilot project has already sparked significant interest, with over 1,000 internship offers from renowned companies like Mahindra & Mahindra, Max Life, and Alembic Pharma reported as of Thursday morning. Registration for these internships will be open from October 12 to October 25, 2024, with selected candidates expected to be notified between October 27 and November 7, 2024. Companies will extend internship offers between November 8 and November 15, with the first batch of internships scheduled to begin on December 2, 2024.
Selection Criteria and Collaboration Options
Participating companies were chosen based on their average Corporate Social Responsibility (CSR) expenditures over the past three years, and their involvement in the scheme is entirely voluntary. Other companies, banks, and financial institutions can also apply for participation with MCA approval. If partner companies cannot provide internships internally, they have the option to collaborate with suppliers, customers, or other entities within their value chain.
Structure and Benefits of the Internships
The internships, lasting 12 months, will emphasize real-world job environments, with at least half of the duration dedicated to practical work experience. Interns will receive a monthly stipend of ₹5,000, funded by the government (₹4,500) and the companies (₹500 from CSR contributions). Additionally, a one-time grant of ₹6,000 for incidental expenses will be offered by the MCA upon the interns’ joining.
Insurance Coverage and Eligibility Criteria
Interns will be insured under government schemes such as PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the government covering the premium costs. Partner companies may provide additional accidental insurance coverage if desired.
Eligible applicants include youth aged 21 to 24 who are Indian nationals, not employed full-time or engaged in full-time education. Candidates must have completed high school or hold degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, or various diplomas. However, graduates from top institutions like IITs and IIMs, as well as those with higher qualifications like MBA, CA, CMA, and MBBS, are not eligible to apply.
Support Mechanisms for Applicants
To ensure a smooth application process, a grievance redressal mechanism and a multilingual helpline (1800-116-090) have been established to assist applicants. The scheme aims to equip young people with practical experience, significantly enhancing their employability in India’s expanding job market.
Also Read: Manipur’s Ukhrul Experiences 3.6 Magnitude Earthquake
Discover more from
Subscribe to get the latest posts sent to your email.
