Finance Minister Nirmala Sitharaman has emphasized the Prime Minister’s Internship Scheme as a “national cause,” urging more companies to participate in this initiative aimed at enhancing youth employability.
Overview of the PM Internship Scheme:
- Launch: Announced in the Union Budget for 2024-25.
- Objective: Provide internships to one crore youth in the top 500 companies over five years.
- Pilot Phase: Initiated in October 2024, targeting 1.25 lakh internships for the financial year 2024-25.
Key Features:
- Eligibility: Indian nationals aged 21 to 24, not engaged in full-time employment or education.
- Financial Support: Interns receive a monthly stipend of ₹5,000, with an additional one-time grant of ₹6,000.
- Company Participation: Companies are expected to cover 10% of the internship cost from their CSR funds, in addition to bearing training expenses.
Current Progress:
- Company Involvement: Approximately 280 companies have joined the initiative during the first phase of the pilot program.
- Applications: The scheme has attracted applications from over 740 districts across India, with individuals from more than 570 districts successfully joining as interns.
Call to Action:
Despite the positive response, Finance Minister Sitharaman has called for increased participation from companies to fully realize the scheme’s potential in bridging the gap between education and employment.
For more information or to apply, interested candidates and companies can visit the official PM Internship Scheme portal.
