HYDERABAD: The Prime Minister’s Internship Scheme, which was announced by Union Finance Minister Nirmala Sitharaman during her Budget speech on July 23 this year, was launched on October 3. The scheme aims at providing internship opportunities to 1 crore youth in the top 500 companies in the next five years.
Companies will upload their internship positions, and candidates can submit applications from October 12, 2024.
Hands-on experience
The scheme will enhance employability of the youth by offering them hands-on experience in real business environments. The scheme is aimed to bridge the skills gap and drive sustainable growth in India.
Monthly stipend
A monthly stipend of Rs. 4,500 will be given to the interns from the Central government via DBT (Direct Benefit transfer), with an additional Rs. 500 provided by the respective company’s CSR fund.
Eligibility criteria
Candidates aged between 21 and 24 years who are not engaged in full-time job are eligible for the one-year internship programme. Internships are available to those who have passed class 10 or higher. Individuals from families with government jobs cannot apply. The scheme is also not open to post-graduates.
A candidate who graduated from premier institutes such as IIT, IIM, or IISER, and those who have CA, or CMA qualification is not be eligible to apply for the internship programme.
Anyone from a household that includes a person who earned an income of Rs. 8 lakh or more in 2023-24, are not eligible.
How to apply for PM internship scheme?
Interns can register in the portal and apply for internships. The portal, https://pminternship.mca.gov.in/login/, is likely to be opened for enrollment by companies on October 12, 2024. This window will remain open until October 25 for the first batch. Candidates must share and self-certify some data about their educational qualifications and residential pin codes.
Candidates’ data will be matched with companies’ needs and locations and candidates will be shortlisted.
The portal is designed to streamline the application process and make candidate selection more transparent. Applicants can check the status of their applications in the portal.