The Government of India on 3rd October launched the pilot project of the Prime Minister’s Internship Scheme.
- The scheme, which was announced by Finance Minister in the Union Budget 2024-25, aims to provide internship opportunities to one crore youth in top 500 companies over five years.
Key features
- The total cost of the pilot project will be 800 crore rupees and will be rolled out in seven districts of Gujarat, Maharashtra, Uttarakhand, and Telangana.
- The government aims to provide 1.25 lakh internship opportunities during the Financial Year 2024-25.
- The duration of the internship will be 12 months. The top companies for this Pilot Project have been identified based on the average Corporate Social Responsibility expenditure of the last three years.
- Participation of the companies in this Scheme is voluntary. Apart from this, any other company, bank or financial institution desirous of participating in the Scheme, may do so with the approval of the Ministry of Corporate Affairs.
- Candidates who want to apply for the internship scheme should have passed High School, Higher Secondary School, possess a certificate from an ITI, hold a diploma from a Polytechnic Institute, or are graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, etc.
- Youth aged between 21 and 24 years who are not employed full-time and also not engaged in full-time education are eligible for the scheme.
- Candidates will get Rs 5000 as a monthly assistant for the entire duration of 12 months of the internship.
- Out of the total amount, the company will pay Rs 500 to each intern from the Company’s CSR funds, and the government will pay Rs 4500.
