PM Internship Scheme: What does this mean for next generation of professionals?

PM Internship Scheme: The Prime Minister’s Internship Scheme which was announced in the Union Budget 2024-25 is kicking off with a pilot project on October 3, 2024, implemented through an online portal created by the Ministry of Corporate Affairs (MCA).

This programme aims to connect young individuals with the top 500 companies over the next five years, boosting skills and enhancing employability across various sectors.

This portal, accessible at [www.pminternship.mca.gov.in](http://www.pminternship.mca.gov.in), will serve as a centralised platform to manage the internship lifecycle, enabling partner companies to post opportunities and candidates to apply.

The selected partner companies for this pilot project have been identified based on their Corporate Social Responsibility (CSR) expenditure over the last three years. Participation in the scheme is voluntary; however, additional companies, banks, and financial institutions can join upon approval from the MCA, particularly if they represent sectors underrepresented by the top 500 firms. 

Moreover, partner companies unable to provide internships internally can collaborate with their supply chain entities or sister companies, ensuring quality supervision throughout the programme.

The internships will last 12 months, with a focus on providing real-world business experiences rather than classroom learning. Interns will spend at least half of their internship in a professional environment, gaining insights that will significantly enhance their employability.

How will it boost the young workforce?

The PM Internship Scheme is packed with benefits designed to empower participants. Interns will gain hands-on experience in diverse business environments, enhancing their practical skills and employability. Upon successful completion of the programme, they will receive a certificate from partner companies, adding valuable credentials to their resumes. 

Each intern will also benefit from financial assistance of Rs5,000 per month, comprising Rs4,500 from the government and Rs500 from the partnering company’s CSR funds. Additionally, a one-time grant of Rs6,000 for incidentals will be awarded upon joining the internship. 

Participants will be insured under the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the option of additional coverage provided by the partner companies.

To be eligible for the PM Internship Scheme, candidates must meet specific criteria. Applicants should be youth aged between 21 and 24, hold Indian nationality, and not be engaged in full-time employment or education. 

Eligible candidates include those who have completed high school, possess an ITI certificate, hold a diploma from a Polytechnic Institute, or have a bachelor’s degree in various fields. 

However, graduates from IITs, IIMs, National Law Universities, and other prestigious institutions, as well as those with higher qualifications, are not eligible to apply.

Grievance redressal mechanism

The scheme will feature a dedicated grievance redressal mechanism to ensure timely issue resolution. A multilingual tele helpline, reachable at 1800-116-090, will provide assistance and support to stakeholders in various languages.

The Prime Minister’s Internship Scheme aims to be an initiative for India’s workforce. By providing youth with essential industry exposure and practical experience, the scheme aims to bridge the skills gap in the job market and boost the next generation of professionals.