Govt launches pilot internship scheme for 1.25 lakh applicants with budget outlay of Rs 800 cr

Ministry of Corporate Affairs Thursday confirmed that close to one lakh candidates are likely to hit the shop floor under the PM Intership programme by December 2 this year. The website for enrolling www.pminternship.mca.gov.in has already been launched but will be open to candidates on October 12.

Ministry sources said that two companies: Mahindra & Mahindra and Max Life Insurance have already come up with 1077 positions till Thursday morning. In total, the government plans to create 1 crore internships for unemployed Indian youth over next five years.

The pilot project for this programme, which has a government budget outlay of Rs 800 crore, was rolled out today.

“The nitty gritty of the project was concluded by September 30. From October 3-10, companies will fill in their details on the website. On October 12, the portal will be open for the youth to get registered. The candidates will be shortlisted between October 27-November 7. Offers will be rolled out between November 8-15. Candidates will get 3 offers to choose from. The internship will commence from December 2 and continue for a fixed term of 12 months,” sources said.

So far 111 companies have come on board to partner with the government for the scheme. 

Of those who have applied, 44 per cent seek graduates, 13 per cent seek postgraduates, 11 per cent require class XII pass, 3 per cent are seeking candidates with diploma or qualified X grade, 1 per cent require class VIII pass, while 20 per cent seek others.

The companies which have mostly shown interest are agricultural, automotive and pharma industries.

According to the MCA a cabinet note will be floated based on the learning’s from the pilot. Students will be covered by a life insurance policy, but they would not have any ‘employment’ related benefits as it is an internship program. Candidates will be placed accord the pin code of their districts as movement outside the state.

The government will make a one-time payment of Rs 600 to the candidate and for the rest of the year, companies will contribute Rs 500 to the salary of Rs 5,000 while the government will deposit Rs 4,500 into the account. For now, the government has welcomed the top 500 companies to participate in the scheme.

The pilot project will be offered to at least 1.25 lakh candidates within FY25. 

Talking of eligibility, MCA sources said, they need to be aged between 21 and 24, and their qualifications can be high school, higher secondary school, ITI or diploma holders. Graduates are also welcome. Students from elite institutions of higher education like IIT , IIM, National Law University etc are no eligible. 

If the candidate comes from a family with basic income above Rs 8 lakh, they will be in eligible as well. Additionally, the family can’t have a government employee. A toll-free number has been set up for clarification and query: 1800-116-090.