PM Internship Scheme

October 5, 2024

Current Context : Recently the government launched the Prime Minister’s Internship Scheme.

ABOUT SCHEME

This scheme is designed to bridge the gap between academic learning and industry skills, increasing the employability of young graduates across India.
Aim : to provide 25 lakh internships in top 500 companies during the financial year 2024-25. It is part of a larger goal to create one crore internships over five years.
The pilot project will be implemented through an online portal managed by the Ministry of Corporate Affairs (MCA).
Eligibility: Candidates must be aged 21-24 and hold qualifications such as High School, ITI diploma, or degrees like BA, BSc, BCom, BBA, or BCA. However, those enrolled in full-time education or employed full-time, as well as graduates from premier institutes like IITs, IIMs, are not eligible.

BENEFITS:

A monthly stipend of ₹5,000, with ₹4,500 from the government and ₹500 from companies via Corporate Social Responsibility (CSR) funds.
A one-time grant of ₹6,000 for joining expenses.
Insurance coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with government-paid premiums
Duration: The internship lasts for 12 months, with at least half the period involving practical work in a real-world job setting.